Cnooc: Development Project in U.K. North Sea Starts Production

   By Chester Yung 
 

Cnooc Ltd. (0883.HK), China's biggest offshore producer of oil and gas by output, said Monday its development project in the U.K. North Sea started production, and is expected to produce 70,000 barrels of oil per day during its peak in 2015.

The project includes development of the Golden Eagle, Peregrine and Solitaire fields in the North Sea, Cnooc said in the statement, adding the development comprises separate production and wellhead platforms and two subsea production systems.

Currently, there are two Golden Eagle wells producing about a total of 18,000 barrels of oil per day , the company said. Cnooc chief executive Li Fanrong said the project will make a significant production contribution to the company in the near future.

Nexen Petroleum U.K. Ltd. , a wholly owned unit of the Cnooc, is the operator of the development project and has a 36.54% interest. The remaining interests are held by Maersk Oil North Sea UK Ltd., Suncor Energy UK Ltd. and Edinburgh Oil and Gas Ltd.

Write to Chester Yung at [e-mail]

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