Luda 21-2/16-3

Project Location

The Luda 21-2/16-3 regional development project is located in the Bohai Bay, China, in a shallow water environment.

Operator

The project is operated by the China National Offshore Oil Corporation (CNOOC).

Discovery

The Luda 16-3 South oil field, which is part of the broader Luda 21-2/16-3 project, was discovered in 2014.

Production

• Production from the Luda 21-2/16-3 regional development project began in July 2020.
• The project is anticipated to reach its peak production capacity, producing nearly 25,600 barrels of oil per day by 2022.

Field Characteristics

• The Luda 16-3 South is a conventional oil field located in shallow water, indicating it is a relatively accessible and less complex field compared to deepwater projects.

Development

The development of the Luda 21-2/16-3 project involves the exploitation of oil reserves within the field. Given CNOOC's involvement, the project likely includes standard offshore oil production infrastructure such as wells, platforms, and associated facilities to manage and transport the oil.

Economic and Strategic Significance

The project contributes to China's oil production capacity, helping to meet the country's energy demands. The peak production capacity of nearly 25,600 barrels per day is significant, especially in the context of China's overall energy strategy and its reliance on domestic oil production to supplement imports.

In summary, the Luda 21-2/16-3 oil project is an important offshore oil development in China, operated by CNOOC, with production starting in 2020 and expected to reach peak capacity by 2022.