China National Offshore Petroleum Corporation, known as CNOOC, has completed a record-breaking oil and gas supply line that runs through exceptionally deep waters in the country. The update comes from a leading Chinese information portal that aggregates national industry news.
As reported by the portal, the new pipeline forms a critical link between Hainan province and the Shenhai-1 semi-submersible floating platform. The final segment of the route lies in Lingshui Liskom Autonomous County, situated on the island’s southern coastline, marking a milestone in offshore energy infrastructure.
Officials note that the pipeline reaches depths of up to one thousand meters, underscoring the technical challenges overcome during construction. The associated oil and gas project is linked to an estimated gas deposit with reserves around fifty billion cubic meters, highlighting substantial potential for regional energy supply.
Industry observers recently highlighted a notable financial development: a shipping contract in which CNOOC paid for liquefied natural gas shipments using yuan and sold the cargo to TotalEnergies, the French energy giant. The move signals a growing interest in yuan-denominated energy trades within the international market and reflects broader shifts in commodity settlement currencies.
Looking ahead, CNOOC has emphasized plans to expand exploration and production in Bohai Bay. Management notes that the area holds oil resources approximating one hundred million tons. Current extraction capabilities from existing wells in the region are reported to produce around two thousand and forty barrels of crude oil daily, alongside about three hundred twenty thousand cubic meters of gas each day, illustrating the ongoing role Bohai Bay plays in sustaining regional energy output.