The Caofeidian (CFD) 1-1/11-2 oil field in western Bohai Bay was formally put into production on September 16, People's Daily reported in Beijing. With CFD, the aggregate output at Bohai Oilfield is expected to top 10 million cubic meters this year.

Caofeidian oil field is jointly exploited by China National Offshore Oil Corporation (CNOOC) Limited and US Kerr-McGee Corporation and Energy Resource. With a reserve of over 100 million tons, the output is expected to reach its peak by mid-2005 and the will exceed two million tons next year. CNOOC holds 51-percent share of the oil field, McGee as the operator owns 40 percent and Energy Resource nine percent.

Bohai Sea is one of China's important oil zones. The output in Bohai Oilfield doubled from the five million cubic meters in 2000 to 10 million cubic meters this year. Zhou Shouwei, vice president of CNOOC, said that the corporation is confident in and capable of re-doubling the output in another four years.

By People's Daily Online