SUBSCRIBE
PROFILE

CNOOC Limited launches Phase II of Luda 5-2 North oil project

CNOOC Limited has started production for Phase II of the Luda 5-2 North oil project in the Bohai Sea. The expansion includes 29 wells and aims for peak production of 6,700 barrels of oil equivalent per day by 2026.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

CNOOC Limited has announced the start of production for Phase II of the Luda 5-2 North oilfield development project, located in the central part of the Bohai Sea. This offshore project relies on infrastructure that includes a new auxiliary platform and a production wellhead platform.

Expansion of production capacity

A total of 29 development wells are planned for this phase, including 28 production wells and one water source well. The project, which extracts heavy crude oil, is expected to reach a peak production of approximately 6,700 barrels of oil equivalent per day by 2026.

Technology and energy efficiency

Luda 5-2 North is the first oilfield in China to produce from ultra-heavy oil reservoirs using thermal recovery. Following the launch of Phase I in 2022, CNOOC Limited has made technological advances to enhance the efficiency of offshore ultra-heavy oil development.

Optimisation of output

Through optimised Jet Pump Injection-Production Technology, Phase II aims to enable more efficient and economically viable extraction of heavy crude oil. This initiative aligns with the company’s strategy to strengthen its energy supply capacity.

  • Popular on energynews.pro
Canadian Solar commissions 20 MWAC solar plant in Japan under 25-year virtual PPA
Shikoku Electric Power expands solar acquisitions and targets water surfaces
European Energy invests in the largest battery system in the Nordic countries
AfDB grants $7.41mn to Liberia to complete hydroelectric power plant
Imperial Petroleum raises $60mn through direct share and warrant offering
Ecopetrol plans up to $6.84bn in 2026 investments to support production
Ecopetrol plans between $5.57bn and $6.84bn in investments for 2026, aiming to maintain production, optimise infrastructure and ensure profitability despite a moderate crude oil market.
OPEC+ maintains output freeze for 2026 and opens quota battle for 2027
Faced with oversupply risks and Russian sanctions, OPEC+ stabilises volumes while preparing a structural redistribution of quotas by 2027, intensifying tensions between producers with unequal capacities.
UK locks in oil windfall until 2030 with 78% tax pressure
The United Kingdom is replacing its exceptional tax with a permanent price mechanism, maintaining one of the world’s highest fiscal pressures and reshaping the North Sea’s investment attractiveness for oil and gas operators.
Pakistan becomes structural fuel oil exporter, disrupting Asian market balance
Pakistan confirms its exit from domestic fuel oil with over 1.4 Mt exported in 2025, transforming its refineries into export platforms as Asia faces a structural surplus of high- and low-sulphur fuel oil.
Aksa Enerji to build 119 MW thermal power plant in Burkina Faso
Turkish company Aksa Enerji has signed a 20-year contract with Sonabel for the commissioning of a thermal power plant in Ouagadougou, aiming to strengthen Burkina Faso’s energy supply by the end of 2026.
CPC pipeline restarts after strikes, but pressure remains on Kazakhstan
The Caspian Pipeline Consortium resumed loadings in Novorossiisk after a Ukrainian attack, but geopolitical tensions persist over Kazakh oil flows through this strategic Black Sea corridor.
Hungary doubles oil shipments to Serbia amid US sanctions on refinery
Hungary increases oil product exports to Serbia to offset the imminent shutdown of the NIS refinery, threatened by US sanctions over its Russian majority ownership.
Pemex increases domestic refining despite continued decline in crude oil production
Faced with falling oil production, Pemex is expanding local refining through Olmeca, aiming to reduce fuel imports and optimise its industrial capacity under fiscal pressure.
Petrobras cuts investment to $109 bn in new five-year plan
Brazil’s state oil company will reduce its capital spending by 2%, hit by falling crude prices, marking a strategic shift under Lula’s presidency.
TotalEnergies sells Bonga stake for $510mn to Shell and Eni
TotalEnergies has finalised the sale of its 12.5% stake in Nigeria’s offshore Bonga oilfield for $510mn, boosting Shell and Eni’s positions in the strategic deepwater production site.
Belgrade begins legal procedure to seize Moscow-controlled Serbian refinery
Serbia is preparing a budget law amendment to enable the takeover of NIS, a refinery under US sanctions and owned by Russian groups, to avoid an imminent energy shutdown.
Dangote selects Honeywell to expand refinery capacity to 1.4 million barrels/day
Nigeria’s Dangote refinery selects US-based Honeywell to supply technology that will double its crude processing capacity and expand its petrochemical output.
Baghdad maintains oil output by isolating sanctioned Russian assets
Iraq secures production by bypassing US sanctions through local payments, energy-for-energy swaps, and targeted suspension of financial flows to Lukoil to protect West Qurna-2 exports.
BP partially restarts Olympic Pipeline but leaves 60% of capacity offline
Restarting Olympic Pipeline’s 16-inch line does not restore full supply to Oregon and Seattle-Tacoma airport, both still exposed to logistical risks and regional price tensions.
India’s Russian oil imports to drop sharply from December
Faced with tightened sanctions from the United States and European Union, Indian refiners are drastically reducing their purchases of Russian crude from December, according to industry sources.
Serbia’s Pancevo refinery faces shutdown as US sanctions cut crude supply
Serbia’s only refinery, operated by NIS, may be forced to halt production this week, weakened by US sanctions targeting its Russian shareholders.
Cameroon: Glencore records a 31% drop in oil volumes
Glencore's attributable production in Cameroon dropped by 31% over nine months, adding pressure on public revenues as Yaoundé revises its oil and budget forecasts amid field maturity and targeted investment shifts.
Contrarian strategies outperform hedge fund tracking on Brent market
The profitability of speculative positioning strategies on Brent is declining, while contrarian approaches targeting extreme sentiment levels are proving more effective, marking a significant regime shift in oil trading.
ConocoPhillips, Repsol and Santos revive Alaskan oil with Nuna and Pikka
Alaska is set to record its highest oil production increase in 40 years, driven by two key projects that extend the operational life of the TAPS pipeline and reinforce the United States' strategic presence in the Arctic.
TotalEnergies strengthens position in Nigeria with 90% stake in OPL257
TotalEnergies increases its stake to 90% in Nigeria’s offshore block OPL257 following an asset exchange deal with Conoil Producing Limited.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.