China-based CNOOC Limited announced that the Stampede Field, located in the deepwater Gulf of Mexico, has commenced production.
The Stampede Field is located approximately 185 kilometers (115 miles) south of Fourchon, Louisiana. It is positioned in approximately 1,066 meters (3,500 feet) of water, with a reservoir depth of 9,100 meters (30,000 feet).
The facility is designed for a gross topsides processing capacity of approximately 80,000 barrels of oil per day, 40 million standard cubic feet of natural gas per day, and 100,000 barrels of water injection capacity per day.
Under the current development scope, production facilities will consist of six subsea production wells and four water injection wells tied back to a Tension Leg Platform (TLP). Three production wells are currently completed, and production is expected to ramp up through 2018.
Nexen Petroleum Offshore USA Inc., a wholly owned affiliate of CNOOC Limited, has a 25% working interest in Stampede Field. Hess Corporation, Union Oil Company of California, a subsidiary of Chevron Corporation and Statoil Gulf of Mexico LLC, each have a 25% working interest; Hess is the operator.
CNOOC’s net production target for 2018 is 470 million to 480 million barrels of oil equivalent (BOE), of which production from China and overseas accounts for approximately 64% and 36%, respectively. The company’s net production for 2017 is expected to be approximately 469 million BOE. The company’s net production for 2019 and 2020 are estimated to be approximately 485 million BOE and 500 million BOE, respectively.
In 2018, four new projects in addition to Stampede are expected to come on stream: Weizhou 6-13 oil field, Penglai 19-3 oil field 1/3/8/9 comprehensive adjustment project, Dongfang 13-2 gas fields and Wenchang 9-2/9-3/10-3 gas fields in offshore China. CNOOC will continue to promote the progress of its major overseas projects.