CNOOC Limited, along with its RMB counter under the code 80883, has officially launched production at the Weizhou 5-3 Oilfield Development Project. The initiative marks a significant step forward in the company’s strategic offshore expansion and underscores its commitment to strengthening energy output in the South China Sea region.

Situated in the Beibu Gulf Basin in the South China Sea, the Weizhou 5-3 Oilfield lies in waters with an average depth of about 35 meters. The field has been developed using a cost-effective and efficient approach that maximizes the utilization of existing offshore infrastructure in the area. The central facility in the project is a self-installing wellhead platform, which forms the hub of the development efforts. This innovative platform design facilitates swift installation and reduces overall project timelines and costs.

CNOOC Limited has laid out a robust development plan that includes the commissioning of 10 wells in total. Of these, seven are designated as production wells aimed at extracting crude oil. The plan also incorporates two water injection wells, which are critical for maintaining reservoir pressure and enhancing oil recovery. Additionally, one gas injection well has been included in the project design to optimize production performance and manage associated gas volumes effectively.

According to CNOOC, the oilfield is expected to reach its peak production phase by 2026, with an estimated output of around 10,000 barrels of oil equivalent per day. The type of crude being produced at the Weizhou 5-3 field is classified as medium crude, a grade that offers a balance between quality and refining flexibility, making it valuable to a broad range of buyers in the global oil market.

Ownership of the project is shared between CNOOC Limited, which holds a 51 percent operating interest, and Smart Oil Investment Ltd., which owns the remaining 49 percent. This partnership highlights the importance of strategic alliances in offshore energy development, leveraging both technical expertise and financial collaboration to bring complex projects online efficiently.

The commencement of production at the Weizhou 5-3 Oilfield Development Project not only contributes to China’s domestic energy supply but also demonstrates the technical capabilities and operational efficiency of CNOOC in offshore environments. The project is expected to play a key role in supporting regional economic growth and enhancing national energy security through steady oil output over its production lifespan.

With its latest offshore success, CNOOC Limited reinforces its position as a leading player in China’s oil and gas industry, continuing to develop new resources while maintaining a focus on safe, sustainable operations.