CNOOC Starts Production at Wenchang 16-2 South China Sea Project

China National Offshore Oil Corporation (CNOOC) has commenced production at its Wenchang 16-2 oilfield development project located in the western Pearl River Mouth Basin of the South China Sea. The project, situated in waters with an average depth of approximately 150 meters, utilizes existing Wenchang Oilfields facilities alongside a new jacket platform that integrates oil and gas production, offshore drilling, completion operations, and personnel accommodation. CNOOC, holding a 100% stake and serving as the operator, plans to commission 15 development wells and expects the project to reach a plateau production of around 11,200 barrels of oil equivalent per day by 2027. This new development follows other recent CNOOC projects in the region, including the Wenchang 9-7 and Weizhou 5-3 oilfield projects, reflecting the company's status as China's largest offshore crude oil and natural gas producer. Despite increasing production volumes, CNOOC experienced a profit decline in the first half of 2025, attributed mainly to falling oil prices amid volatile markets. The company's ongoing expansion demonstrates its commitment to enhancing oil recovery and maintaining production growth in key offshore areas.