May 22, 2020 / 1:45 AM / 8 days ago

CNOOC launches combined Penglai oilfield project in Bohai Bay

BEIJING, May 22 (Reuters) -

* CNOOC Ltd, a listed branch of China National Offshore Oil Corp, has launched its combined Penglai 19-3 Oilfield Area 4 adjustment and Penglai 19-9 oilfield Phase II project

* The offshore development is in China’s Bohai Bay and is expected to reach peak production of 15,681 barrels of crude oil per day in 2022

* CNOOC Ltd holds a 51% interest in the project and is the operator; ConocoPhillips China, a subsidiary of U.S. oil giant ConocoPhillips, holds a 49% interest (Reporting by Muyu Xu and Tom Daly; Editing by Tom Hogue)

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