Penglai
Oil Gas
Type
Operating
Status
🇨🇳 China, Bohai Bay
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
49
Ownership %:
49
Operator:
No
Operator:
No
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Offshore development comprising the Penglai 19-3, 19-9, and 25-6 fields in Bohai Bay Block 11/05. Operated by CNOOC. Developed in stages from large offshore platforms and an FPSO. Phase 4B (two wellhead platforms) achieved first production in Q4 2023, with 95 of 144 planned wells online by December 2025. Phase 5 (two new platforms, four expansions) achieved first production in Q4 2024, with 25 of 91 planned wells online by December 2025. Crude oil is sold domestically and exported.
Oil & Gas metrics
As at 31 December 2025
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