China’s first deepwater oilfield, the Liuhua Oilfield, has produced two million tonnes of crude oil during its secondary development phase so far, the China National Offshore Oil Corporation announced Saturday.
Located in the Pearl River Mouth Basin, the Liuhua Oilfield is China's largest offshore reef limestone oilfield by proven geological reserves. Since its initial commissioning in 1996, the oilfield has produced over 20 million tonnes of crude oil by the end of 2025.
The secondary development project, which fully commenced operation last December, comprises two oilfields, Liuhua 11-1 and Liuhua 4-1, situated in an area with an average water depth of approximately 305 meters. The project involves 32 production wells.
China's first deepwater oilfield project produces 2 million tonnes of crude oil in secondary development so far
China's first deepwater oilfield project produces 2 million tonnes of crude oil in secondary development so far
Chinese Vice Premier He Lifeng met with European Commissioner for Trade and Economic Security Maros Sefcovic on Friday in Beijing. The two sides exchanged views on bilateral economic and trade relations.
He, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said China always attaches high importance to growing its economic and trade ties with the European Union (EU) and stands ready to work with the European side to fully implement the important consensus reached by leaders of the two sides.
He called on the two sides to give full play to the role of the China-EU trade and investment consultation mechanism, uphold the new positioning of China and the EU as each other's stable and balanced key trading partners, maintain ongoing dialogue, properly handle differences, and advance the sound and steady development of bilateral economic and trade relations.
Sefcovic stated that China is an important economic and trade partner of the EU. The EU is ready to continue advancing the trade and investment consultation, step up communication and jointly promote cooperation, he added.
Chinese vice premier meets European commissioner for trade, economic security
