Offshore Oilfield Cluster Bohai Becomes China's Largest Oil Producer

Reuters
Tuesday, January 11, 2022

China's offshore oilfield cluster Bohai, run by state-run CNOOC Ltd, has become the country's largest crude oil producer with output hitting 30.132 million tonnes (602,640 barrels per day) in 2021, state news agency Xinhua reported.

Bohai field, off north China, overtook the country's flagship onshore producer Daqing, in northeast China, which pumped 30 million tonnes last year as reported by state media a week earlier.

CNOOC Ltd, the listed vehicle of China National Offshore Oil Company, produced 48.64 million tonnes of crude oil last year, up by 3.23 million tonnes, which accounted for up 80% of the national increment in crude oil production.

Developed in 1965, the Bohai cluster fields are considered marginal assets with relatively high development cost and poor crude oil quality.

But CNOOC has in the past two decades sharpened its exploration and development know-how, such as shortening the average drilling time to under 10 days from 57 days, and has made several major discoveries like Kenli 10-2 and Bozhong 19-6 fields.

In response to Beijing's call to boost energy supply security, national producers - CNOOC, PetroChina, and Sinopec - have in the past several years accelerated drilling more challenging terrains at home, including shale oil, to make up for depleting mature fields like Daqing. 

China, the world's second-largest oil consumer which imports three quarters its oil needs, eked out a 2.5% increase in domestic crude output in the first 11 months of 2021 over a year earlier, official data showed.

(tonne=7.3 barrels for crude oil conversion)

Categories: Energy Activity Production Asia Shallow Water South China Sea

Related Stories

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Mubadala Energy Open to Sell Andaman Gas for Domestic Use

ABS Greenlights SHI’s Multi-Purpose Deepwater LNG Floating Unit

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

Valeura Energy Greenlights Wassana Oil Field Redevelopment off Thailand

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

CNOOC Puts Into Production New Oil Field in South China Sea

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Current News

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

BW Opal FPSO Vessel set for Work off Australia

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com