CNOOC (00883.HK) has announced that the fully owned and operated Enping 21-4 oil field development project has started production. It is expected that the daily peak production will reach about 5,300 barrels of oil equivalent by next year, and the oil product is light crude oil.

The company stated that the project is located in the eastern South China Sea, with an average depth of about 89 meters. In order to improve the efficiency of oilfield development, it will mainly rely on the existing production facilities and use 2 ultra-large displacement wells based on the existing platform for development. The maximum well depth is over 9,500 meters, and it is expected to be a reference for similar oil and gas field projects in the future.