China National Offshore Oil Corporation (CNOOC) reported on the 18th that net production targets for 2012 are 330 to 340 million barrels of oil equivalent.
China National Offshore Oil Corporation, the parent company of CNOOC, is China's largest offshore oil and gas producer and one of the largest independent oil and gas exploration and production groups in the world.
CNOOC expects that four new projects will be put into operation in China's sea area in 2012. Among them, the new output of the Panyu 4-2/5-1 adjustment project is expected to reach a peak of approximately 57,000 barrels per day in 2014. In the next few years, more adjustment projects will be put into operation in China's sea areas and become an important source of CNOOC's production growth. Overseas, Canada's Long Lake oil sands project and Iraq's Missan field will bring production contribution. At present, CNOOC has a total of 16 new projects under construction.
In terms of exploration, CNOOC will strengthen its own deep-water exploration and explore exploration in new areas and new areas. It is planned to drill 114 exploration wells, of which three deep-water wells are planned to be drilled in the deepwater region of the South China Sea. It plans to collect 18,300 kilometers of 2D seismic data and 19,200 square kilometers of 3D seismic data. CNOOC reserves replacement rate target for 2012 is more than 100%.
CNOOC CEO Li Fanrong stated that in the future, CNOOC will continue to develop and comprehensively adjust China’s offshore oil production in the region, and at the same time advance deepwater exploration and development, and achieve a compound annual growth rate of 6-10% from 2011 to 2015.
In 2012, to support future growth and increase the exploration and development of deepwater and unconventional energy sources.
China National Offshore Oil Corporation, the parent company of CNOOC, is China's largest offshore oil and gas producer and one of the largest independent oil and gas exploration and production groups in the world.
CNOOC expects that four new projects will be put into operation in China's sea area in 2012. Among them, the new output of the Panyu 4-2/5-1 adjustment project is expected to reach a peak of approximately 57,000 barrels per day in 2014. In the next few years, more adjustment projects will be put into operation in China's sea areas and become an important source of CNOOC's production growth. Overseas, Canada's Long Lake oil sands project and Iraq's Missan field will bring production contribution. At present, CNOOC has a total of 16 new projects under construction.
In terms of exploration, CNOOC will strengthen its own deep-water exploration and explore exploration in new areas and new areas. It is planned to drill 114 exploration wells, of which three deep-water wells are planned to be drilled in the deepwater region of the South China Sea. It plans to collect 18,300 kilometers of 2D seismic data and 19,200 square kilometers of 3D seismic data. CNOOC reserves replacement rate target for 2012 is more than 100%.
CNOOC CEO Li Fanrong stated that in the future, CNOOC will continue to develop and comprehensively adjust China’s offshore oil production in the region, and at the same time advance deepwater exploration and development, and achieve a compound annual growth rate of 6-10% from 2011 to 2015.
In 2012, to support future growth and increase the exploration and development of deepwater and unconventional energy sources.
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