1.
Cross-country drive on 2 gallons of gas
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.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
HAVANA, May 25 (UPI) --
Cuba is reportedly sitting on vast underwater oil and gas reserves, but none came up in the latest exploration, a joint Chinese-Spanish undertaking.
|
LONDON, May 25 (UPI) --
Military pilot training and training aircraft were in the news this week, with European companies reaping more than $3 billion in contracts.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
The photos are familiar, but the captions are not, as economic tension skips across the continent of Europe.
|
| Stories | Photos | People | Comments |
View Caption
