ConocoPhillips China announces the commencement of the Penglai Offshore Windfarm Pilot Project in partnership with CNOOC
ConocoPhillips China Inc. (COPC) and CNOOC Limited today officially announced the commencement of the Penglai Offshore Windfarm Pilot Project at the fifth China International Import Expo (CIIE) in Shanghai. As a joint low carbon energy development effort, the project will harness wind energy to supply power to the Penglai Oilfield, China’s largest offshore oil and gas production base under Production Sharing Contract, located in Bohai Bay, Northeast China, according to the company's release.
Twenty years after Penglai achieved its first oil, the oilfield is still under various phases of development as the two companies expect a long production life ahead. The newly launched windfarm project offers an optimal solution in meeting the Penglai Oilfield’s power demand, which is expected to increase year by year as development continues.
Featuring four wind turbines with a total installed capacity of 34 MW, the windfarm ties back to the existing central processing platform via subsea cables, distributing energy to the field’s power grid system. At full capacity, the windfarm will have the potential to cover over 30% of the power needed for the Penglai Oilfield’s operations and achieve tens of thousands of tons of annual CO2 reductions.
In addition to offshore wind power, the two companies are closely evaluating opportunities in power from shore, as well as carbon capture and storage (CCS) and carbon capture, utilization, and storage (CCUS). If proven to be technically and economically viable, these low carbon energy solutions will help transform Penglai towards a net-zero offshore oilfield, in line with China’s energy, sustainable development and carbon neutrality goals.
ConocoPhillips has been a committed partner in China since the early 1980s and continues to be one of the largest foreign investors in China’s upstream oil and gas sector. For 40 years, ConocoPhillips has expanded its overall business scope in China across various fields, including oil and gas exploration and production, LNG supply, global supply chain services and potential low carbon energy development projects. At present, ConocoPhillips has offices in Beijing and Tianjin (Tanggu).
