The accelerated arrival of Russian cargoes in China has lowered Asian spot LNG prices, but traffic is set to slow with the seasonal closure of the Northern Sea Route.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
CNOOC has launched production at the Wenchang 16-2 field in the South China Sea, supported by 15 development wells and targeting a plateau of 11,200 barrels of oil equivalent per day by 2027.
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
CNOOC Limited has signed two production sharing contracts with SKK Migas to explore the Gaea and Gaea II blocks in West Papua, alongside EnQuest and Agra.
Petrobras is holding talks with SBM Offshore and Modec to raise output from three strategic FPSOs, two already at full capacity, to capture more value from the high-potential pre-salt fields.
FPSO One Guyana begins production as part of the Yellowtail development, with enhanced technical capabilities to optimise reliability and maintenance in deep waters.
The launch of the Dongfang 1-1 13-3 project by CNOOC Limited marks a milestone in offshore gas development in China, bringing new investments in infrastructure and regional production.
