CNOOC Begins Production at Buzios

CNOOC Commences Production at Buzios CNOOC Limited announced that the Buzios5 Project has safely commenced production. The Buzios oil field, located in the Santos Basin off Brazil's southeastern coast, is currently producing approximately 600,000 barrels per day. Buzios5 represents the fifth phase of oil field development.

Production will be developed with one FPSO and subsea production systems.

The project has brought 5 injectors and 5 production wells online. These wells will produce approximately 150,000 barrels of crude oil per day, 6 million cubic meters of natural gas and inject 220,000 barrels of water daily. Xia Qinglong, Chairman of CNOOC Limited, said: "Buzios5 is the first project to commence production following CNOOC Limited's entry into the Buzios project, which will bring new momentum to our overseas production growth. We are committed to establishing mutually beneficial cooperation with the host government and partners, jointly developing world-class ultra-deepwater projects and contributing to the sustainable development of Brazil's oil and gas industry, economy and society." Source