Exploration & Production | Discoveries | Quarterly / Earnings Reports | Production | Third Quarter (3Q) Update
CNOOC's Production Flat as Revenues See Slight Dip
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CNOOC Limited reported its key operational statistics for the third quarter of 2014.
In the third quarter, the Company achieved total net production of 103.0 million barrels of oil equivalent, basically flat year-on-year (YoY). Production growth in Bohai offshore China remained steady, while overseas production fell slightly primarily due to scheduled maintenance at the Buzzard oilfield in the UK North Sea.
During the period, the Company made 1 new discovery and drilled 9 successful appraisal wells in offshore China including the mid-to-large sized discovery Jinzhou 23-2 that has excellent reservoir quality. Following the successful appraisal of Luda 21-2 structure, it is expected to be developed into a large-sized oilfield. In addition, the Company and its partner Shell made a…
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