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HONG KONG, Dec. 30 (UPI) -- The China National Offshore Oil Corp. announced Wednesday two oil and gas fields in Bohai Bay near North Korea started production ahead of schedule.
CNOOC announced its JinZhou 25-1 South and Caofeidian 18-2 oil and gas fields went into production in mid-December.
JinZhou 25-1 South is located in water depths of 82 feet. A peak production rate of 20,000 barrels of oil and 53 million cubic feet per day is expected by 2012, the company said.
Executives at the Chinese major said the startup of the fields highlights the "outstanding performance" of CNOOC's resource finds in Bohai Bay.
CNOOC said two other oil fields in Bohai Bay, BoZhong 13-1 and BoZhong 34-1 North, started operating this month as planned.
Those fields should contribute roughly 12,000 barrels of oil equivalent per day when they reach their peak production capacity in 2010.
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