Nexen boosts CNOOC’s first-half production

Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, a 6.8% year-over-year increase, the company reported. In comparison, Nexen produced 24.8 million boe in its first few months under CNOOC control during last year’s first half.

Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, a 6.8% year-over-year increase, the company reported. In comparison, Nexen produced 24.8 million boe in its first few months under CNOOC control during last year’s first half (OGJ Online, Aug. 22, 2013).

Nexen attributes the rise to improved production in the Long Lake oil sands project in the southern Athabasca region of Alberta and Buzzard oil field of the UK North Sea. CNOOC says it’s continuing to advance its integration with Nexen in the areas of management, resources development, and corporate culture.

CNOOC overall recorded 9 discoveries and 23 successful appraisal wells during the first half. Notably, the Lingshui 17-2 discovery was tested and is expected to become the first large-scale deepwater gas field resulting from the company’s independent exploration activities (OGJ Online, Aug. 28, 2014).

The company says the Luda 16-3 South structure is expected to become a midsized discovery after appraisal, while the Kenli 16-1 structure shows promising exploration potential for the southern slope of Laizhou Bay Sag in Bohai.

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