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.
The project is currently in approval stage and is expected to start commercial production in 2023.
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 2023 and is forecast to peak in 2024, to approximately 2,100 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2066.
Remaining recoverable reserves
The field is expected to recover 8.48 Mmboe, comprised of 8.48 Mmbbl of crude oil & condensate.
About CNOOC
CNOOC Ltd (CNOOC), a subsidiary of China National Offshore Oil Corp, is an upstream oil and gas company. It carries out the exploration, development, production, and sale of crude oil and natural gas. The company operates major oil fields in Bohai, Western South China Sea, Eastern South China Sea and the East China Sea. It operates either independently or in cooperation with foreign partners through production sharing contracts. In overseas, the company holds interests in oil and natural gas blocks in Asia-Pacific, Europe, Middle East and Africa and the Americas. CNOOC is headquartered in Beijing City, Beijing, China.
For more details on the Weizhou 5-7 Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
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.
