Conocophillips China Inc News

CNOOC Limited announced that Platform C of Phase of Penglai (PL) 19-3 has come on stream successfully. This is the first Wellhead Platform starting production in Phase â…¡development of PL19-3. The development facilities in Phaseâ…¡of PL19-3 include: 5 wellhead platforms, a central processing facility and a world-class FPSO, with a designed processing capacity of 190,000 barrels of oil per day. PL19-3 oil field is located in Block 11/05 in Bohai Bay, the largest oil field offshore China currently. The field is jointly developed by CNOOC Ltd. and ConocoPhillips China Inc. (COPC). CNOOC Ltd. holds 51% interest of PL 19-3 and the Operator, COPC holds the rest 49%. Phase of PL 19-3 has started production successfully in December 2002.