China National Offshore Oil Corporation (CNOOC) announced that the Bohai Oilfield has surpassed an annual production of 40 million tonnes of oil equivalent, marking a new historical record for China’s largest offshore oilfield.
The field has maintained an average annual oil and gas output growth rate of 5% over the past five years.
Since operations began in 1965, the Bohai Oilfield has produced a total of over 600 million tonnes of crude oil.
The oilfield currently includes more than 60 producing oil and gas fields.
Deployment of China’s first independently developed shallow-water subsea production system.
More than 80% of its oilfields are now connected to onshore power sources as part of a green and digital transformation.
Just days after the milestone, CNOOC announced a major discovery at the Qinhuangdao 29-6 field in the Bohai Sea, adding over 100 million tonnes of oil equivalent in-place reserves.
The record production is considered a critical component of China’s national energy security, with the Bohai Oilfield serving as the country’s primary offshore oil and gas production hub.
Note by Alessandro Bazzoni