Production slips at China’s offshore Penglai project

摘要

Singapore-The Penglai oil project offshore China produced an average 37,000 b/d of liquids net to equity partner ConocoPhillips last year, the US company said in a filing to the US Securities and Exchange Commission last week. This suggests that gross oil production at the project, the largest offshore China, was approximately 75,510 b/d in 2014, declining 7.5% from 2013.