CNOOC Ltd able to develop up to 700 million tonnes of proven oil and gas reserves trapped at Bohai Bay

The launch of China’s first shallow-water subsea production system (SPS) will potentially unlock millions of barrels of undeveloped oil reserves off northern China’s Bohai Bay.

Chinese offshore giant CNOOC Ltd claimed that the shallow-water SPS it has just developed could bring a revolutionary shift to developments in the congested Bohai Bay, which is now dominated by assets exploited by conventional jacket-supported production platforms.

In mid July, the company installed its first shallow-water SPS at the Jinzhou 31-1 field, ushering in an era that will see SPSs will replace above-water platforms in oil and gas production at Bohai Bay.

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