CNOOC Heading to High-Quality Development

Performing its role as a main force and bedrock, the China National Offshore Oil Corporation (CNOOC) has been increasing oil and gas output and promoting the high-quality development of  the offshore oil industry in China.

Oil and gas production capacity

As China's largest offshore oil and gas producer, CNOOC has stepped up in its efforts to improve oil and gas exploration and development.

During the country's 13th Five-Year Plan (2016-20) period, the company discovered more than 70 offshore oilfields which have increased the number of proved geological reserves of oil and natural gas by 1.3 billion tons and more than 500 billion cubic meters.

In terms of output, CNOOC produced 383 million tons of crude oil and 116.6 billion cubic meters of natural gas during the 13th Five-Year Plan period, a growth of 24 and 13 percent from the previous five-year period.

The company has also launched 35 platforms and two Floating Production Storage and Offloading (FPSO) facilities for oilfield development and production, adding over 20 million tons of output.

During the 14th Five-Year Plan (2021-25) period, CNOOC will continue to boost oil and gas development, aiming to raise output to over 80 million tons by 2025.

A view of CNOOC's liquefied natural gas project in East China's Zhejiang Province, with more than 80 percent of its equipment developed independently by China [Photo/sasac.gov.cn]

Key technology development

CNOOC has succeeded in several key technologies and has a complete system in oil and gas development, making it capable of independent exploration of offshore oilfields.

Using the technologies, the company has discovered five 100 million-ton oilfields, four 50 million-cubic meter oilfield clusters and two 100 billion-cubic meter gas fields during the 13th Five-Year Plan period.

The technologies have also played a crucial role in the construction of Dongfang 13-1 and Dongfang 13-2, the country's first and largest high temperature and high pressure offshore gas fields.

The discovery of the Bozhong 19-6 100 billion-cubic meter gas field using these technologies has turned a new page for natural gas development in oil basins in China.

Strengthening development of key equipment was also a highlight of the company and will be a continued focus in the upcoming five years, during which CNOOC will focus on oil and gas exploration and development, oil refinery and chemical engineering, natural gas-based power generation and energy transformation. They will also carry out 16 technological research and development projects.

Deepsea equipment manufacturing

The deepsea will be a major oil and gas source in the future.

During the 13th Five-Year Plan period, CNOOC developed a series of deep-sea equipment including Shenhai Yihao, also known as DeepSea No. 1, the world's first 100,000-ton deepsea semi-submersible oil storage platform.

The FPSO Hai Yang Shi You 119, self-designed and built by China, is now being used at the Liuhua 16-2 oilfield project.

With world-leading FPSO platforms, CNOOC now has a full life-circle management capacity on its platforms, which includes design, construction, installation, adjustment, operation, upgrading and renovation. The equipment makes it possible for the company to operate 2,000 meters deep and has become a main support to guarantee national energy security.

A view of Shenhai Yihao, also known as DeepSea No. 1, which serves oil and gas development in  the Lingshui 17-2 gas field, China's first 100 billion-cubic meter self-run deepsea gas field [Photo/sasac.gov.cn]

Clean energy supply

Energy transformation, green and low-carbon development has been a global trend in recent years. Therefore, CNOOC, a traditional energy enterprise, makes green and low-carbon development a key principle, intending to contribute to China's goal of peaking carbon dioxide emission by 2030 and achieving carbon neutrality by 2060.

At present, the company has formed a stable clean energy supply mode and built a domestic natural gas production, supply, storage and marketing system.

It has also played an important role in advancing China's green traffic by promoting the construction and renovation of vessels and shipping gas stations along inland rivers and coastal areas.

In 2020, CNOOC reached agreements with Shell and Total on purchasing five ships of carbon neutrality LNG, a first in China.

In the 14th Five-Year Plan period, the company will focus on improving its natural gas supply capacity and speeding up new energy industrial development. It has set a target to improve  the proportion of China's clean and low-carbon energy to 60 percent.

A view of Caofeidian 6-4 oilfield, a novel green oilfield in China [Photo/sasac.gov.cn]

(Executive editor: Niu Yulin)