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CNOOC (T.CNU) commences production at Wenchang 13-6 oilfield

Stockhouse Editorial
1 Comment| August 25, 2014

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CNOOC (TSX: CNU, Stock Forum) advanced operations at Wenchang 13-6 oilfield, located in the west of Pearl River Mouth Basin, South China Sea, when the company announced today that it had commenced production at Wenchang.

According to the news release, the main production facilities consist of one wellhead platform and 12 producing wells, five of which are currently producing approximately 1,300 barrels per day.

The company possesses 100% working interest in Wenchang 13-6 and acts as Operator of the independent oilfield.

CNOOC was in the news recently when the company announced the commencement of production at Panyu 10-2/5/8 at the end of July.

Currently there are 8.2m outstanding shares with a market cap of $1.7 billion.



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