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Energy

China's CNOOC starts new Baohai field production

BEIJING, March 19 (Reuters) - Chinese main offshore oil firm CNOOC Ltd 0883.HK said on Thursday that it started production from its Bozhong (BZ) 28-2S oil field with 4,000 barrels of oil per day via four wells. BZ28-2S, located in the south of Bohai Bay with a water depth of 21 metres, is the largest field among all the oil projects expected to come on stream this year offshore China, CNOOC said in a press statement.

The production is expected to ramp up to an average 25,000 barrels of oil per day by 2011, it added.

BZ28-2S was discovered in 2006 and is an independent field of CNOOC Ltd.

CNOOC is the smallest of China’s big three state-owned oil firms and concentrates on offshore exploration and production.

The company said in December that it made a sizeable light crude oil and gas discovery at its Jinzhou 25-1 field in Bohai Bay. (Reporting by Eadie Chen, Editing by Jacqueline Wong) (eadie.chen@reuters.com; +8610 6627 1268; Reuters Messaging: eadie.chen.reuters.com@reuters.net))

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