SEHK:883Oil and Gas
Is Weizhou 11-4’s New Output Hub Altering The Investment Case For CNOOC (SEHK:883)?
CNOOC Limited recently commenced production at the Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project in the Beibu Gulf Basin, using a new unmanned wellhead platform, a central processing platform linked to existing infrastructure, and planning 35 wells in about 43-meter water depth to produce light crude.
The project’s “three offshore processing centers + one onshore terminal” hub design is intended to unlock more offshore capacity and support regional energy...