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


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.

Previous articleNigeria needs $10bn investment to increase crude output to 3mln bpd
Next articleAnalysing the Performance of FBN Holdings Plc – A Comprehensive Report
Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of and also sits on the board of Students In Business Awards, (SIBA).


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.