Page 9 - AsianOil Week 26 2021
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AsianOil SOUTHEAST ASIA AsianOil
investors to a region that is already home to oil The newswire’s sources said Petronas was
and gas majors from China and Malaysia.” mulling the sale of its 74% stake in Engen, or
Both state-owned China National Petroleum even an initial public offering (IPO), and had
Corp. (CNPC) and Petronas are already present been in early talks with potential buyers.
in the country, with the two partnering in blocks The retailer, which decided to convert its
1, 2, 3, 4 and 7, while Petronas owns a stake in 120,000 barrel per day refinery in Durban into
Block 5A. a storage facility, owns 1,280 fuel stations across
The Malaysian major is also reportedly con- seven African countries. The refinery, South
sidering the potential sale of its majority stake Africa’s second-largest, suffered fire damage
in South African fuel retailer Engen, according in December 2020 that prompted authorities
to a June 23 report by Bloomberg, which cited to close the facility in order to investigate the
unnamed sources. incident.
EAST ASIA
CNOOC Ltd’s first self-operated
deepwater project enters production
PROJECTS & CHINA’S state-run CNOOC Ltd commenced it had commenced production from the sec-
COMPANIES production from the country’s first self-oper- ond phase of the shallow-water Weizhou 11-2
ated deepwater project this week, as well as a oilfield. CNOOC Ltd said on June 28 that it
shallow-water oilfield in the South China Sea. expected the project’s production to climb to a
The offshore specialist’s parent company, peak of around 6,000 barrels per day (bpd) of oil
China National Offshore Oil Corporation sometime next year.
(CNOOC), said on June 25 that the deepwater The second phase of Weizhou 11-2, which is
Deep Sea No.1 gas field had entered production. located in the Beibu Gulf in around 40 metres of
The field, which lies in 1,500 metres of water water, has a single unmanned wellhead platform
around 150 km off the coast of Sanya City, is esti- that is tied back to the acreage’s existing process-
mated to produce 3bn cubic metres per year of gas. ing facilities.
The project represents a major step forward CNOOC Ltd said it intended to drill 13
in terms of the company’s operational capabili- development wells, including seven produc-
ties, with CNOOC noting that prior to Deep Sea tion and six water injection wells. The devel-
No.1’s start-up the company’s previous water oper began producing oil from Weizhou 11-2
depth record was 300 metres. in 2013 and announced in 2020 that the field
The field was discovered in 2014 and is con- was among a number that were successfully
sidered key to the country’s energy security, the appraised that year.
official Xinhua news wire quoted CNOOC as The company announced in early May that it
saying last week. An unnamed National Energy had started production from the Liuhua 29-2 gas
Administration (NEA) official, meanwhile, told field, which lies in the eastern South China Sea
the newswire that the project indicated China’s in about 750 metres of water. CNOOC Ltd said
“great potential and broad prospects” in the area. on May 6 that it expected the field to reach peak
CNOOC Ltd followed the Deep Sea No.1 production of 41mn cubic feet (1.16mn cubic
announcement a few days later with news that metres) per day this year.
Week 26 01•July•2021 www. NEWSBASE .com P9
