CNOOC Starts Production at Buzios
CNOOC Limited has announced that Buzios5 Project started production safely.
Buzios oilfield is located in the Santos Basin, southeast offshore of Brazil, has a daily production of about 600,000 barrels at present.
Buzios5 is the fifth phase of oilfield development. It will be developed with an FPSO and subsea production system. The project has already drilled 5 producing wells and 5 injectors. These wells will produce approximately 150,000 barrels of crude oil, 6 million cubic meters of natural gas and inject 220,000 barrels of water daily.
Xia Qinglong, President of CNOOC Limited, commented, "Buzios5 is the first project to commence production after CNOOC Limited joins Buzios project, which will inject new momentum into our overseas production growth. We adhere to win-win cooperation with the host government and partners, to jointly develop the world-class ultra-deepwater project, and to contribute to the sustainable development of Brazil's oil and gas industry, economy and society."
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