China’s largest offshore producer announced that it has begun production at its offshore expansion project
China National Offshore Oil Corporation (CNOOC; ticker: CEO) announced this week that it has begun production at its Qinhuangdao 32-6 
comprehensive adjustment project. Once the project reaches its peak production capability it is expected to produce 36 MBOPD, according to the company’s press release.
The Qinhuangdao 32-6 oilfield is located at the central north of Bohai Bay with an average water depth of approximately 20 meters. The main production facilities for the project include 4 platforms and 99 producing wells. This project is expected to reach peak production sometime this year.
CNOOC has a 75.5% working interest in the project and acts as the operator, while its partner, Chevron China Energy Company (ticker: CVX) holds
the remaining 24.5% working interest.
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