| Key Facts |
Employees: 596
Total Average Daily Production in 2006: 34 MBOE
- Oil: 33 MBD
- Gas: 7 MMCFD
- NGL: --
Major Office Locations: Beijing, Shekou |
Exploration and Production ConocoPhillips’ operations in China include the Xijiang and Panyu oil fields in the South China Sea, the Peng Lai (PL) 19-3 oil field in China’s Bohai Bay and the Ba Jiao Chang (BJC) gas field located onshore in Sichuan province. Interests in the Panyu and BJC fields were obtained in 2006.
ConocoPhillips is operator of the Bohai Bay Peng Lai (PL) 19-3, PL 25-6 in the 1.6 million-acre Block 11/05. The Block’s PL 19-3 discovery well was drilled in May 1999, followed by six successful appraisal wells. Phase I development of the PL 19-3 oil field included one 24-slot wellhead platform and a floating production, storage and offloading (FPSO) facility. Phase I production began in December 2002. Production averaged approximately 22.7 MBOD gross and 13.8 MBOD net in 2006.
Phase II development currently is under way. This phase includes installation of five additional drilling and production platforms, drilling and completion of more than 200 wells, and construction of one of the largest FPSO vessels in the world. The PL 25-6 field, discovered in 2000 and located about three miles east of PL 19-3, will be developed in conjunction with phase II. This second phase is expected to produce approximately 154.7 MBOD gross and 61.4 MBOD net, with first production scheduled for 2009. ConocoPhillips holds a 49 percent interest, and China National Offshore Oil Corporation holds the remaining interest.
The Xijiang development consists of fields located approximately 80 miles from Hong Kong in blocks 15/11 and 15/22 of the South China Sea. ConocoPhillips’ first field offshore China to go into production was Xijiang 24-3 in 1994. The second Xijiang field (30-2) established production a year later. In 1997, ConocoPhillips developed a third field (24-1), a satellite, located five miles from the 24-3 platform. The satellite field was developed using extended-reach drilling technology, setting several world drilling records in the process. By 2003, 500 lifts from the field had been achieved without a safety or environmental incident. Continued exploration and development of all the fields has maintained production levels. The three oil fields are located approximately 80 miles from Hong Kong and had combined production of 71 MBOD gross and 10 MBOD net in 2006. ConocoPhillips holds 24.5 percent interest in Blocks 24-3 and 24-1 and a 12.25 percent interest in Block 30-2.
Acquired as part of the Burlington Resources acquisition in 2006, ConocoPhillips holds a 24.5 percent working interest in the 15/34 Block in the Pearl River Delta region of the South China Sea. This block contains two operating offshore fields, Panyu 4-2 and Panyu 5-1. These fields, operated by the Chinese National Offshore Oil Company, produced a combined 42 MBOD gross and 9 MBOD net in 2006.
Acquired in 2006, ConocoPhillips holds a 100 percent working interest and is the operator of the 295,000-acre Chuan Zhong (CZ) Block and Ba Jiao Chang (BJC) gas field in Sichuan province. Pilot production began in 1999. Government approval of the field development plan was granted in early 2004. At year-end 2006, 19 development wells had been drilled and development was ongoing. Production during 2006 averaged 10.3 MMCFD of natural gas and 75 BOPD of condensate gross and 6.93 MMCFD of natural gas and 51 BOPD of condensate net.
Within Bohai Bay, ConocoPhillips completed the acquisition of BZ 22 3-D seismic and pre-stack depth migration processing in 2006. The company drilled exploration well PL25-8-1 to test the PL25-8 structure. The well was a dry hole. The company drilled two appraisal wells, B42 and B52, to test the PL 19-9 field and the C14 appraisal well to test PL 19-3 Area 5. All three wells encountered hydrocarbons as predicted. In the Xijiang development area, ConocoPhillips drilled ILX exploration well XJ 24-3 AST06 to test a satellite structure near the 24-3 field in September 2006. The well was a dry hole. In addition, the 3-D seismic acquisition and processing of the Qiulin prospect in the CZ block was completed during the third quarter of 2006.
Chemicals
 ConocoPhillips participates in the chemical sector through its 50 percent ownership in Chevron Phillips Chemical Company LLC (CPChem), a joint venture with Chevron Corporation. A manufacturing plant is located in Zhangjiagang, China, which produces approximately 220 million pounds per year of aromatics and styrenics to develop polystyrene. Also located in China is the Shanghai Golden facility, which produces approximately 300 million pounds per year of olefins and polyolefins to develop high-density polyethylene.
Find out more at …
ConocoPhillips China Web site
China Sustainable Development Report
Chevron Phillips Chemical Company LLC
|