China’s CNOOC Starts Production at a Large Field in Brazil
China National Offshore Oil Corporation (CNOOC), China’s state-owned oil and gas corporation, has started production at Brazil’s large Buzios field, the company said in a statement.
It is noted that the Buzios oil field is located in the Santos oil and gas basin in the southeast of Brazil at a depth of 1.9-2.2 thousand meters. The company noted that this is the largest deep-sea presalt oil field in the world, daily oil production is about 600,000 barrels. Buzios-5 is the fifth phase of development of this oil field.
“CNOOC announces that the Buzios-5 project has successfully entered production,” the company said in a statement.
Five production and five injection wells have already been drilled as part of the Buzios-5 project. These wells will produce up to 150,000 barrels of crude oil, six million cubic meters of natural gas and pump 220,000 barrels of water per day.
CNOOC Petroleum Brasil Ltda, CNOOC’s Brazilian subsidiary, owns a 7.34% operating stake in Buzios.
CNOOC is China’s third largest oil company after CNPC and Sinopec. Founded in 1982, headquartered in Beijing. CNOOC is engaged in the production, processing and marketing of oil and natural gas in offshore China and abroad.
