CNOOC Limited has initiated production at the Bozhong 19-6 Condensate Gas Field Phase 1 Development Project in the central Bohai Sea. This project, situated in an average water depth of approximately 65.6 feet (20 meters), is entirely owned and operated by CNOOC. It encompasses a central processing platform, three unmanned wellhead platforms, and a gas processing terminal. With plans to commission 65 development wells, including 42 production wells, 20 gas injection wells, and three water source wells, CNOOC aims for a peak production of around 37,000 barrels of oil equivalent per day (boepd) in 2024.

President and CEO of CNOOC, Zhou Xinhuai, highlighted the significance of this project as the first condensate gas field in Bohai Bay with a proven in-place volume of over 200 billion cubic meters of natural gas. Relying on the Bozhong-Kenli Oilfields Onshore Power Project, the gas field is poised to supply stable clean energy to the Beijing-Tianjin-Hebei region and the Bohai Rim region, contributing to the low-carbon and high-quality development of the company.

In other project updates, CNOOC reported the commencement of production at the Penglai 19-3 Oilfield Area 5/10 Development Project in the Bohai Sea. Operating with a 51 percent interest, CNOOC, in collaboration with ConocoPhillips China, plans to commission 130 development wells, projecting peak production of approximately 29,800 barrels per day (bpd) of crude oil in 2027.

Moving to the Pearl River Mouth Basin of the South China Sea, CNOOC announced the commencement of production at the Enping 18-6 Oilfield Development Project, where it operates with a 100 percent interest. With an average water depth of approximately 324.8 feet (99 meters), the project is set to achieve peak production of around 9,300 bpd of crude oil in 2024.

Additionally, CNOOC unveiled its discovery of the Shenfu deep coalbed methane (CBM) field in China, marking the nation's first large deep CBM field. With proved gas in-place exceeding 3.53 trillion cubic feet (100 billion cubic meters), the Shenfu deep CBM field, located in Yulin, Shaanxi Province, holds promising prospects for exploration and development in the eastern edge of the Ordos Basin.

CNOOC Deputy Chief Exploration Engineer, Xu Changgui, expressed that the Shenfu deep CBM field's discovery lays a solid foundation for building a large onshore gas production base, aiming to tap up to one trillion cubic meters of proved gas in-place. CNOOC is committed to intensifying efforts in the exploration and development of onshore unconventional gas to contribute to the high-quality development of the company.