China National Offshore Oil Corporation (CNOOC) has resumed gas production from Deepwater Field No. 1. This field, recognized as the first gas field located in China's deep waters, had temporarily halted its operations due to an incident involving a fire and explosion in the Phase Two project.
Details of Deepwater Field No. 1
Deepwater Field No. 1 is located at a depth of 1,500 meters in the sea and approximately 150 kilometers south of Hainan Province. This field has a production capacity of 4.5 billion cubic meters of natural gas per year and is divided into two development phases. Production from this field began in June 2021 and is considered one of the largest gas fields of China National Offshore Oil Corporation.
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Impact of the Incident on Gas Production
This official stated that the incident would have a limited impact on the overall production of the company. Although no specific details about the incident have been released, available information indicates that operations at Deepwater Field No. 1 have resumed after necessary repairs and renovations, and gas production has returned to normal.
Deepwater Field No. 1 is considered the main source of gas supply for southern China and Hong Kong, making it highly significant. Given the increasing demand for energy resources in these areas, the resumption of gas production from this field could help meet energy needs and stabilize the gas market in these regions.
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