Chinese giant CNOOC Ltd has taken a further step towards progressing its proposed Weizhou 12‐8 East development in China’s Beibu Gulf.
Field partner Horizon Oil revealed CNOOC Ltd’s special experts’ review had endorsed the project’s engineering scheme and confirmed the economic evaluation of the field met the operator’s requirements.
MOPU being acquired for Weizhou field
Horizon added the overall development plan was expected to be finalised this month ahead of a final investment decision this year, with first oil targeted in early 2021.
The current development concept involves a leased mobile offshore production platform tied back to an existing Block 22/12 platform with a flexible subsea flowline. The development will be phased with an initial three wells to be drilled, with additional production wells to be drilled in subsequent phases.
Block 22/12 hosts a multiple number of small fields, with gross production during the fourth quarter of 2018 averaging about 11,316 barrels per day.
Beibu Gulf fires up for Horizon Oil
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