SINO-JAPANESE JOINT VENTURE STARTS UP LUFENG FIELD IN SOUTH CHINA SEA

China has brought on stream another oil field in the South China Sea, using a floating production, storage, and offloading (FPSO) unit. JHN Oil Operating Co., a joint venture of Japan Hunan Oil Corp. and China National Offshore Oil Corp. unit Nanhai East Oil Corp. (NEOC), started up Lufeng 13-1 oil field last month.; The field holds proved reserves of 32.5 million bbl out of original oil in place of 140 million bbl.

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