Project Profile
Value: Undisclosed
Location: 150km away from the city of Wenzhou in the East China Sea, China
Start-up Year: 2013
Probable Natural Gas Reserves: 119,377 million cubic feet (mcf)
Possible reserves: 92,809 mcf as of March 2011
Total reserves: Equivalent to 24.8 million barrels of oil
Area: 84.7km²
Water depth: 950 metres
Lishui 36-1 is a natural gas field located 150km away from the city of Wenzhou in the East China Sea. It is situated in Block 25/34 and covers a total area of 84.7km². The gas field is owned by Primeline Energy China Limited (PECL), Primeline Petroleum Corporation (PPC) and the China National Offshore Oil Corporation (CNOOC) in the proportion of 36.75%, 12.25% and 51% respectively. It is currently under development. The gas field is expected to have a minimum life of 15 years from the commencement of commercial production. First gas is expected in July 2013. The production life may be further extended if additional gas resources are discovered in Block 25/34 which can be tied to the Lishui 36-1 infrastructure. Lishui 36-1 has been proven to have probable natural gas reserves of 119,377 million cubic feet (mcf) and possible reserves of 92,809mcf as of March 2011. The total reserves are equivalent to 24.8 million barrels of oil. Primeline acquired the exploration right in Block 32/32 in 1994. The company drilled the first discovery well in July 1997, after the evaluation of the historic and newly acquired seismic data. The well, named Lishui 36-1-1, was drilled to a total depth of 3,300m. The project was regarded as a commercial discovery in 2007 due to the global rise of oil prices and continuous economic and rapid growth of gas infrastructure in China.
Operators:
Primeline Energy China Limited (PECL): Owner with 36.75% interest
China National Offshore Oil Corporation (CNOOC): Operator with 51% interest
Primeline Petroleum Corporation (PPC): 12.25% interest
Contractors:
China Oilfield Services Ltd.: Acquisition of 3D seismic data over 232 square miles (600 square kilometres) in Block 33/07 using 3D seismic survey vessel, Hai Yang Shiyan 718