Sub-sea Oil Well in South China Sea in OperationAn oil-rich sub-sea oil well lying in the Basin of the Pearl River Mouth in South China Sea, a Chinese-foreign joint venture, has been put into commercial operation, according to the China National Offshore Oil Corporation Limited (CNOOC Ltd.).The oil well, coded HZ26-1N-1A, belongs to the Huizhou Oilfields in the South China Sea jointly developed by CACT Operators Group, a consortium with CNOOC Ltd. taking 51 percent of the stakes, and Agip China B.V., Chevron Overseas Petroleum Ltd. and Texaco China B.V. each holding a 16.3-percent interest. The operation of the sub-sea well will add 10,000 barrels of crude per day to the 110,000 barrels daily production of the Huizhou Oilfields. The sub-sea well is tied to an offshore platform through two 9- kilometer-long pipelines, with production remotely controlled from the platform by using an electro-hydraulic control umbilical. |
| People's Daily Online --- http://www.peopledaily.com.cn/english/ |