China's Largest Offshore Oilfield Soon to Be Put into Production

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Last updated at: (Beijing Time) Friday, November 15, 2002

China's Largest Offshore Oilfield Soon to Be Put into Production

Penglai oilfield 19-3, discovered by Phillips China Inc. and rated as China's largest offshore oilfield so far, with its preparations for operation to be completed, will soon go into production as planned.

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Sources from Phillips China Inc. say Penglai oilfield 19-3, discovered by the company and rated as China's largest offshore oilfield so far, with its preparations for operation to be completed, will soon go into production as planned. The company will join hands with China National Offshore Oil Corp. to open up the oilfield.

The company's vice-operational-president noted in the interview that the project has the construction of relevant supportive facilities for the first phase finished basically. To date, a drilling platform has been built and pipes laid on the sea floor. Tanker "Jewel" will be enlarged to a loading capacity of 40,000 barrels per day, which is set to carry oil from Penglai oilfield at the end of this month. Currently three wells have been finished, he added, and it is estimated to drill another 21 wells till next July or August. By then, the first-phase project will come to a full conclusion

As learned, the second phase, scheduled to start next year, will produce a major part of the oil yield, while the first phase is designed to provide the second with technical data and other parameters of crude oil. During the first phase, oil output is expected to reach a maximum of 40,000 barrels per day. However, when the second completed, the oilfield's output will reach 140,000-160,000 barrels per day.

By PD Online Staff Zhu Lizhen

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