A consortium of Chinese offshore operator CNOOC Ltd and state oil giant Sinapec is scaling up the momentum for oil and gas exploration and development in the East China Sea. Last year, the two companies brought on stream two new fields in the sea area - Zhenzhu and Ningbo 19-6 - which has helped to boost production to 2.52 million tonnes per annum, up from 2.27 million tonnes in 2021. "Since 2022, production startup at Zhenzhu and Ningbo 19-6 has boosted oil and gas throughput in the East China Sea, opening a new chapter for [a] production increase," Zhou Shouwei, a former China National Offshore Oil Corporation (CNOOC) president and academician at the Chinese Academy of Engineering, told the recent Offshore China Conventional in Shenzhen. Over the next seven years, the duo will optimise operations at producing assets and develop three new areas centering on the Huagang block and areas covering that are called the western slope belt superimposition and central anticline, Zhou said.
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