Major Chinese oil firm starts new offshore project in South China Sea

Chinese oil major CNOOC Ltd said on Monday that an offshore oil project in the South China Sea had commenced production.

Xijiang Oilfields 24 Block Development Project, located in the shallow water of the Pearl River Mouth Basin, is expected to achieve a plateau production of about 18,000 barrels of light crude oil equivalent per day in 2026, CNOOC said in a statement.

The development of the project mainly leverages the adjacent existing facilities of the Huixi Oilfields, with the addition of a new unmanned wellhead platform. The project is expected to commission 10 development wells, according to the statement.

CNOOC holds 100% interest in this project and is the operator, it added.