Weizhou 5-7 is a conventional oil development located in shallow water in China and is operated by CNOOC. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Weizhou 5-7 was discovered in 2007, lies in block Yulin 35. Buy the profile here.
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The project is currently in commissioning stage and is expected to start commercial production in 2024. The development cost is expected to be $122 m.
Field participation details
The field is owned by China National Offshore Oil.
Production from Weizhou 5-7
Production from the Weizhou 5-7 conventional oil development project is expected to begin in 2024 and is forecast to peak in 2025, Based on economic assumptions, the production will continue until the field reaches its economic limit in 2067.
About CNOOC
CNOOC Ltd (CNOOC), a subsidiary of China National Offshore Oil Corp, is an upstream oil and gas company. The company's primary activities involve the exploration, development, production, and sale of crude oil and natural gas. It operates through various oil and gas fields, including Bohai, Western South China Sea, Eastern South China Sea, and East China Sea. CNOOC's products are primarily used in the energy industry, providing essential resources for various sectors. The company has a significant presence in China and holds interests in oil and gas projects in multiple countries and regions worldwide, including Indonesia, Australia, Nigeria, Iraq, Uganda, Argentina, the US, Canada, the UK, Brazil, Guyana, and the UAE. CNOOC is headquartered in Beijing, China.
For more details on the Weizhou 5-7 Conventional Oil Field, buy the profile here.
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This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
