10 Aug 2010 07:16

CNOOC unit puts new Bohai Bay oilfield into operation

Shanghai. August 10. INTERFAX-CHINA - CNOOC Ltd., the listed arm of China National Offshore Oil Corp. (CNOOC), announced on August 9 that its Bozhong 19-4 oilfield is operational.

According to the announcement, CNOOC Ltd. expects the oilfield to achieve daily production of over 15,600 barrels within this year. The oilfield is located in the southwest section of Bohai Bay.

CNOOC Ltd. holds 83.8 percent stake in this project, while US-based Chevron Corporation holds the remaining 16.2 percent stake.

Bohai Bay is CNOOC Ltd.'s largest oil production base, contributing 267,079 barrels of oil equivalent per day in 2009, or 43 percent of the company's total output last year.

CNOOC Ltd. is listed on the Hong Kong Stock Exchange. CNOOC is China's third largest oil producer.