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CNOOC’s Huizhou Restarted Production in Full Scale

Source: 4/21/2010, Location: Asia

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CNOOC Limited announced that Huizhou oilfields, which suspended production after being hit by Typhoon Koppu in September 2009, have restarted production in full scale.

Currently the operations of Huizhou oilfields are running smoothly, with daily production of 45,000 barrels of oil and over 40 million cubic feet of natural gas.

Huizhou oilfields halted production after part of their production facilities were damaged from the strike of typhoon Koppu in September 2009.

After typhoon, the Company worked closely with its partners on the recovery plan for the oilfields in a timely manner. Thanks to the efforts, Huizhou 21-1 gas field restarted its production shortly after being hit, while other fields such as Huizhou 26-1 resumed production early this year.

Mr. Yang Hua, President of the Company commented, “Huizhou oilfields are one of our important assets in the Eastern South China Sea. The rapid recovery of these oil fields will provide strong support for achieving the Company’s production target in 2010. Meanwhile, the success is an evidence of the outstanding capability of the company together with its partners to overcome difficulties and challenges.”

Huizhou oilfields are located in the Pearl River Mouth Basin and about 120 miles southeast of Hong Kong. The water depth of the fields averages 115 meters. Huizhou oilfields consist of 8 platforms, including Huizhou 26-1, Huizhou 19-2 and so on.

Huizhou oilfields are operated by CACT Operators Group, which consists of CNOOC Ltd, Eni and Chevron.

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