With proven reserves exceeding 100 billion cubic meters, CNOOC's first offshore large-scale deepwater self-operated gas field was put into production!

CNOOC Limited announced today (25 June) that China's first large-scale offshore deepwater self-operated gas field, the Lingshui 17-2 gas field, has commenced production. Lingshui 17-2 gas field is located in the northern part of the Qiongdongnan Basin, with a water depth of about 1,560 meters, which is the first major oil and gas discovery of the company's self-operated deepwater exploration in Chinese waters, with proven geological reserves of more than 100 billion cubic meters of natural gas, demonstrating the huge potential of the deepwater area of the South China Sea. A new semi-submersible production platform and mooring system with condensate oil storage function, a set of underwater production system and submarine pipelines will be built in the Lingshui 17-2 gas field, and 11 production wells are planned to be put into production. The field is expected to achieve peak production of 328 million cubic feet of natural gas and 6,751 barrels of condensate per day in 2022, with a stable production period of 10 years. After the gas field is put into operation, the natural gas will be connected to the national natural gas pipeline network through the submarine pipeline, which will become one of the important sources to meet the gas demand of Guangdong, Hong Kong and Qiong area.

CNOOC Limited owns 100% of the Lingshui 17-2 gas field and acts as the operator. Wang Dongjin, Chairman of CNOOC, said: "The commissioning of the Lingshui 17-2 gas field marks the company's leap to 1,500 meters of ultra-deepwater, and at the same time, the natural gas supply capacity is further released. In the future, CNOOC Limited will continue to increase oil and gas exploration and development, strive to increase reserves and production, and strive to increase the proportion of green, low-carbon and clean energy, so as to help achieve the goal of 'carbon peak and carbon neutrality' as soon as possible." ”