CNOOC Starts Up Another Oil Project in South China Sea

CNOOC Limited has launched oil production at the Wenchang 16-2 Oilfield Development Project in the northern part of the South China Sea, China’s top offshore oil and gas producer said on Thursday. CNOOC, which specializes in offshore oil and gas developments in China and internationally, launched production of light crude from the project in the western Pearl River Mouth Basin, which sits at an average water depth of about 150 meters (492 ft). The development of the project uses the existing facilities of the Wenchang Oilfields, as well as…