New oil field in Bohai Sea begins to spurt oil

China National Offshore Oil Company Limited (CNOOC Ltd.) announced on Thursday that a new oil project in North China's Bohai Sea has successfully come on stream.

The Project Qi Kou (QK) 17-2E, including one wellhead platform and six wells, is now capable of produce more than 2,400 barrels of oil per day.

The project is located in western Bohai Sea. The average water depth there ranges from five to seven meters.

The company said it uses an unmanned central platform and remotely controls daily production.

CNOOC Ltd. holds 100 percent interests of the QK 17-2 E project.

Incorporated in Hong Kong, CNOOC Ltd. is a 70.64 percent held subsidiary of the China National Offshore Oil Corporation (CNOOC), China's largest offshore oil and gas producer.

As the third largest oil producer of China, CNOOC produced 81.7 million barrel oil equivalent in the first half, up 7.4 percent from the same period of last year.

Source: Xinhua