China to resume production at major deepwater gas field with over 100 billion cubic meters in reserves

China's state-owned energy company CNOOC plans to resume production at its Lingshui 17-2 deepwater gas field in the South China Sea in the fourth quarter, following an accident in early 2023 that temporarily halted operations. The field, located about 150 kilometers south of Hainan province in waters averaging 1,500 meters deep, has a reserve capacity of over 100 billion cubic meters of natural gas and an annual production capacity of 4.5 billion cubic meters across two development phases.

CNOOC's acquisition of the field, which is the company's first fully owned and operated deepwater gas field, began production in June 2021 and supplies natural gas to southern China and Hong Kong. The incident, which CNOOC did not disclose specific details about, is expected to have a limited impact on overall production.

Brief written by urgent.news from New Voice of Ukraine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.