BOHAI BAY
Peng Lai 19-3, 19-9, 25-6
Block 11/05
Operator: ConocoPhillips (49.0%)
Co-venturer: CNOOC (51.0%)
The Peng Lai 19-3 discovery was drilled in 1999 in Block 11/05 of China’s Bohai Bay. Six successful appraisal wells followed. Phase I development of the field began in 2002.
Peng Lai Phase II development included the installation of five additional drilling and production platforms and the construction of an FPSO vessel. All platforms have been installed, and the new FPSO vessel started operation in 2009 and is used to accommodate production from the Peng Lai 19-3 Field, as well as the nearby Peng Lai 19-9 and Peng Lai 25-6 fields. Net production from the Peng Lai Area is expected to increase due to continued development.
In 2011, crude oil production was impacted by two incidents that occurred in June 2011. Production was curtailed as a result of the incidents. Efforts to meet government requirements for restoring normal operations in the Peng Lai 19-3 and 19-9 oil fields continue into 2012.
SOUTH CHINA SEA
Panyu 4-2, 5-1, 11-6
Block 15/34
Operator: CNOOC (75.5%)
Co-venturer: ConocoPhillips (24.5%)
Block 15/34 in the South China Sea contains three oil fields, Panyu 4-2, Panyu 5-1 and Panyu 11-6, operated by CNOOC. A major expansion project targeted for completion in 2013 will add two additional drilling and production platforms.