CNOOC Limited announces 20,000b/d bitumen production in 2018

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Chinese oil company, CNOOC Limited has announced the production of its 20,000 barrels per day production of Bitumen in 2018.

According to a statement released on Wednesday, the Hangingstone project located in Alberta, Canada has already started production.

The statement said the project consists of steam-generating equipment, well pad facilities, 32 well pairs, water treatment and bitumen flow lines.

The oil and gas project is expected to reach its peak production rate of approximately 20,000 barrels of bitumen per day in 2018.

NEXEN Energy ULC, a wholly owned subsidiary of CNOOC Limited, has a 25% working interest in Hangingstone Project, while Japan Canada Oil Sands Limited (JACOS) holds the remaining 75% working interest and acts as the operator.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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