Sino Geophysical (SHE:300191) and subsidiary Smart Oil have started production at the Weizhou 5-3 oilfield, a joint venture with CNOOC (SHA:600938, HKG:0883) in China's Beibu Gulf.
The project launched on June 6, with 10 development wells planned, according to a Monday filing with the Shenzhen bourse. Smart Oil holds a 49% stake in the project, while CNOOC holds 51%.
The first well is now online, with full capacity of about 10,000 barrels of oil equivalent daily expected by 2026.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。