The Penglai 19-3/25-6 oilfield development project, also known as "Daqing Daqing," has recently been recognized as a national key construction project in 2005. As the largest offshore oilfield in China to date, it is expected to play a significant role in alleviating the country's growing oil supply challenges.
In recent years, traditional onshore oil fields such as the Daqing Oilfield have seen declining production, while China's rapid economic growth has significantly increased the demand for energy. This situation has driven the government to focus more on developing offshore oil and gas resources. Once fully operational, the Penglai oilfield is anticipated to help reduce the pressure on China's energy supply and lower its reliance on foreign oil imports.
To date, seven major oil fields have been discovered in the Bohai Bay area, with the Penglai 19-3/25-6 field being the second-largest discovery in China since the Daqing Oilfield. These large-scale oilfields contribute nearly half of the current oil production in the Bohai Sea, making them a crucial part of China’s energy strategy.
Located in the southern part of the Bohai Sea, the Penglai 19-3/25-6 oilfield covers an area of 50 square kilometers and has proven reserves of approximately 60 million tons of oil. The oil is buried at depths ranging from 900 to 1,400 meters below the seabed, with an average oil layer thickness of about 150 meters. Its shallow burial depth, high reserve volume, and favorable geological conditions make it one of the most promising offshore fields in China.
This project not only marks a milestone in China's offshore energy development but also highlights the nation's increasing efforts to secure long-term energy stability through domestic resource exploration and utilization.
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