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Two CNOOC oil fields begin producing

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Published: Dec. 28, 2007 at 11:51 AM
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HONG KONG, Dec. 28 (UPI) -- China National Offshore Oil Corp. Ltd. announced two of its oil fields in Bohai Bay have come onstream.

CNOOC's Hong Kong arm said the development would add to the company's total energy production.

The Bo Zhong 34-1 oil field, located in southern Bohai Bay, is now producing more than 4,800 barrels of oil per day from seven wells.

The rest of the 20 producing wells in BZ34-1 are expected to come onstream in 2008. Once that happens, peak daily production is expected to reach 12,000 barrels of oil per day.

The BZ34-1 has started production two months ahead of schedule, said Liu Jian, executive vice president of CNOOC.

CNOOC had earlier announced plans to more than double production at Bohai Bay to more than 27 million metric tons, or around 542,000 barrels a day, in five to six years as new fields come onstream. Production from Bohai Bay accounted for around 40 percent of CNOOC's total output in 2006.

Topics: Liu Jian
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