CNOOC Limited launches two new offshore oil projects in China

Chinese company CNOOC Limited has announced the commencement of production at the Caofeidian 6-4 and Wenchang 19-1 Phase II offshore oil projects, aimed at boosting the country’s energy production.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

China National Offshore Oil Corporation (CNOOC) Limited recently began production at two offshore oil projects: the Caofeidian 6-4 Comprehensive Adjustment Oilfield Project and the Wenchang 19-1 Phase II Project. These initiatives are designed to enhance China’s energy production capacity.

The Caofeidian 6-4 project is located in the western part of the Bohai Sea, at an average depth of 20 metres. The primary production facility is a new wellhead platform, utilising nearby existing infrastructure. A total of 25 development wells are planned, including 22 production wells and 3 water injection wells. The expected peak production is approximately 11,000 barrels of oil equivalent per day in 2026. The extracted oil is light crude.

Wenchang 19-1 Phase II Project

The Wenchang 19-1 Phase II project is located in the western part of the Pearl River Mouth Basin, at an average depth of 125 metres. The main production facility is a new drilling and production platform, also leveraging adjacent existing infrastructure. Thirteen development wells are planned, with a peak production estimated at around 12,000 barrels of oil equivalent per day in 2027. The extracted oil is medium crude.

Smart technologies and operational efficiency

CNOOC Limited has integrated smart technologies into these projects to enhance hydrocarbon development efficiency. Certain procedures, such as crude oil production, equipment maintenance, and safety management, have been upgraded. For example, the associated gas from the Caofeidian 6-4 project is reinjected into the reservoir using gas injection compressors, which is expected to reduce carbon dioxide emissions by approximately 13,000 tonnes per year. Meanwhile, the Wenchang 19-1 Phase II project uses a high-temperature combustion gas ORC power generation unit, capable of producing up to 24 million kilowatt-hours of electricity.

CNOOC Limited holds a 100% stake in both projects and is the operator.

Afreximbank leads a syndicated financing for the Dangote refinery, including $1.35 billion of its own contribution, to ease debt and stabilise operations at the Nigerian oil complex.
The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
ConocoPhillips targets $5 bn in asset disposals by 2026 and announces new financial adjustments as production rises but profit declines in the second quarter of 2025.
Pakistan Refinery Limited is preparing to import Bonny Light crude oil from Nigeria for the first time, reflecting the expansion of Asian refiners’ commercial partnerships amid rising regional costs.
Frontera Energy Corporation confirms the divestment of its interest in the Perico and Espejo oil blocks in Ecuador, signalling a strategic refocus on its operations in Colombia.
Gran Tierra Energy confirms a major asset acquisition in Ecuador’s Oriente Basin for USD15.55mn, aiming to expand its exploration and production activities across the Andean region.
The Mexican government unveils an ambitious public support strategy for Petróleos Mexicanos, targeting 1.8 million barrels per day, infrastructure modernisation, and settlement of supplier debt amounting to $12.8 billion.
KazMunayGas has completed its first delivery of 85,000 tonnes of crude oil to Hungary, using maritime transport through the Croatian port of Omisalj as part of a broader export strategy to the European Union.
Tullow marks a strategic milestone in 2025 with the sale of its subsidiaries in Gabon and Kenya, the extension of its Ghanaian licences, and the optimisation of its financial structure.
Saudi giant accelerates transformation with $500 million capex reduction and European asset closures while maintaining strategic projects in Asia.
Record Gulf crude imports expose structural vulnerabilities of Japanese refining amid rising geopolitical tensions and Asian competition.
Diamondback Energy posted a $699mn net income for the second quarter of 2025 and accelerated its share repurchase programme, supported by record production and an upward revision of its annual guidance.
Swiss group Transocean reported a net loss of $938mn for the second quarter 2025, impacted by asset impairments, while revenue rose to $988mn thanks to improved rig utilisation.
The rapid commissioning of bp’s Argos Southwest extension in the Gulf of America strengthens maintenance capabilities and optimises offshore oil production performance.
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
New Delhi calls US sanctions unjustified and denounces double standard as Trump threatens to substantially increase tariffs.
BP posts a net profit of $1.63 bn in the second quarter 2025, driven by operational performance, an operating cash flow of $6.3 bn and a new $750 mn share buyback programme.
The Saudi oil giant posts solid results despite falling oil prices. The company pays $21.3 billion in dividends and advances its strategic projects.
Dangote Group appoints David Bird, former Shell executive, as head of its Refining and Petrochemicals division to accelerate regional growth and open up equity to Nigerian investors.
Faced with falling discounts on Russian oil, Indian Oil Corp is purchasing large volumes from the United States, Canada and Abu Dhabi for September, shifting its usual sourcing strategy.
Consent Preferences