CNOOC (00883.HK) announced that the Brazil Mero3 oil field project in the Santos pre-salt basin in southeastern Brazil has been safely put into production. The project is located approximately 180 kilometers from Rio de Janeiro, with water depths ranging between 1,800 and 2,100 meters. It adopts the conventional deepwater pre-salt oil field development model, which includes a floating production storage and offloading unit (FPSO) along with subsea production systems.

The project has a total of 15 development wells, including 8 production wells and 7 injection wells, with a daily crude oil production capacity of 0.18 million barrels. After the project is put into production, the overall daily crude oil production capacity of the Mero field will increase to 0.59 million barrels. The company stated that in the future, the project will separate and reinject associated gas under the seabed, achieving production stimulation and emission reduction simultaneously. It is expected to become an important growth point for CNOOC's overseas oil and gas production and a new case for implementing green and low-carbon development principles.

CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC, holds a 9.65% participating interest in the Mero field through a Production Sharing Contract (PSC). Petrobras, the operator, holds 38.6% interest, TotalEnergies holds 19.3% interest, Shell holds 19.3% interest, CNPC holds 9.65% interest, and Pe-Sal Petroleo S.A - PPSA, as the non-contractual area federal union representative, holds 3.5% interest.