China’s First Deepwater Oil Project Reaches Full Capacity

China has launched full-capacity production at its first independently developed deepwater oil project, which is located in the eastern section of the South China Sea, China National Offshore Oil Corporation (CNOOC) said in a statement sent to Global Times on Monday. The Liuhua 16-2 oilfield cluster started production in September 2020, CNOOC said back then. As part of the project, CNOOC plans to put into production and development a total of 26 wells via a floating production storage and offloading (FPSO) and three underwater production systems,…