Chinese oil and gas giant CNOOC Limited has started production from the Weizhou 12-8E oilfield development project located offshore China.

The Weizhou 12-8E oilfield development project is located in Beibu Gulf in the South China Sea, with an average water depth of about 30 meters.

Announcing the startup on Friday, CNOOC said that, in addition to fully utilizing the existing processing facilities of Weixinan oilfields, a total of 7 development wells are planned, including 6 oil production wells and 1 production water reinjection well.

As detailed by the company, the project is expected to reach its average daily production of approximately 4,700 barrels of crude oil in 2022, with its peak production of approximately 10,000 barrels of crude oil per day.

CNOOC Limited holds 51 per cent interest in the Weizhou 12-8E oilfield development project. The partners of this oilfield are Roc Oil (China) Company, Horizon Oil (Beibu) Limited, and Oil Australia.

In early 2022, the Chinese company revealed that, as part of its strategy for the year, it would increase oil and gas production in the next three years while advocating for and encouraging green energy transition initiatives.

Its targeted net production for 2022 is 600 million to 610 million barrels of oil equivalent (BOE), of which, production from China and overseas will account for approximately 69 per cent and 31 per cent, respectively.

This post appeared first on Offshore Energy.

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