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CNOOC Ltd Confident About Reaching Annual Production Target
Zhou Shouwei, executive vice- president of CNOOC Ltd., the overseas listed company of China National Offshore Oil Corporation, said Tuesday all of the company 's development projects scheduled for completion this year have been brought into production.
Zhou said that this has alleviated uncertainties about reaching the company's annual production target.
In the meantime, CNOOC Ltd. announced the production startup of its Qinhuangdao 32-6 oilfield in China's Bohai Bay.
The oilfield, located near Tianjin, holds a recoverable reserve of 103 million barrels net to CNOOC Ltd. The overall development of the oilfield will be completed in 2002.
At present, CNOOC Ltd. is jointly developing the offshore oil- bearing structure with BP and Texaco.
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