CNOOC Luda 4-2 Oilfield Starts Production

CNOOC announced recently that Luda 4-2 Oilfield located in Bohai Bay waters already started production ahead of schedule. The oilfield has 7 wells in production today and the oil output is around 5 600 barrels a day.    Luda 4-2, Luda 5-2 and Luda 10-1 are all located in the middle of the Liaodong Bay in the Bohai Sea and close to Suizhong 36-1 oilfield that is making production. The average water depth is around 100 feet. Luda 4-2 Oilfield has one wellhead platform, one submarine pipeline and two submarine cables. According to the program, the oilfield will reach the production peak in 2006 and the daily oil output will be more than 5 000 barrels at that time. CNOOC is the operator of the oilfield and owns 100% equity.