China National Offshore Oil Corp. (CNOOC) awarded the Technip and China Offshore Oil Engineering Co. (COOEC) consortium a front-end engineering design (FEED) contract for two tension leg platforms (TLPs) for the Liuhua 11-1 and 16-2 joint development project located in the South China Sea.
Liuhua sits 240km southeast of Hong Kong, in about 370m water depth.
Technip will be responsible for the FEED work of China’s first two TLPs. The contract covers the design and engineering of the topsides (including two drilling rigs), hulls, mooring and riser systems. It is expected to be completed by the end of 2015. Technip's Houston operating center will execute the FEED contract.
Liuhua is described as the largest offshore field in production in China with in-place reserves estimated at 1 billion bbl of crude oil. CNOOC took over operatorship in 2003 from BP. The first discoveries on the field were in 1987.
According to CNOOC’s 2015 business strategy and development plan, the company’s net production target is set in the range of 475-495 MMboe, with 67% coming from China.
CNOOC’s plans include a total of seven new projects coming on stream, including the company's 100% operated Jinzhou 9-3 comprehensive adjustment project. The project is expected to reach 12,000 b/d at peak production this year.
CNOOC says that within the year, it plans to drill around 162 exploration wells and acquire approximately 36,000km of 2D seismic data, as well as approximately 14,000sq km of 3D seismic data. The reserve replacement ratio (RRR) is targeted at over 100%.
Image: Map of Liuhua oil field.
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