Lufeng Drawing to a Close

Tuesday, April 21, 2009

After more than 11 years in production, StatoilHydro and Chinese National Offshore Oil Company (CNOOC) have reached a mutual agreement to transfer full responsibility for the abandonment of the Lufeng field in the South China Sea to CNOOC.

The transfer will take effect after the production shutdown later this year.

Lufeng 22-1 lies some 250 kilometres south-east of Hong Kong. Lufeng 22-1 was first discovered in 1983 by Occidental. Ampolex took over in 1991 and sold its interests to Statoil in 1996. The field was brought on stream in 1997. By the agreement, StatoilHydro will hand over its 75% interest in Lufeng 22-1 to CNOOC.

Lufeng originally planned to produce 25 million barrels of oil, but exceeded a total of 42 million barrels by year end 2008. Production was originally scheduled to shut down in 2004.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

DNV GL's Walk to Work Guidelines for Offshore Personnel

Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.

USN Escort U.S. Flagged Ships in Strait of Hormuz

Ships from U.S. Naval Forces Central Command in Bahrain have begun accompanying U.S.-flagged maritime traffic in the Strait of Hormuz, Defense Department officials said.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1132 sec (9 req/sec)