April 1:
Husky Energy, controlled by Hutchison Whampoa (0013), and CNOOC (0883) said their first China deepwater natural gas project in Liwan has started production.
Source: http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=144070&sid=41945648&con_type=1&d_str=20140401&fc=2
Husky Energy, controlled by Hutchison Whampoa (0013), and CNOOC (0883) said their first China deepwater natural gas project in Liwan has started production.
"Liwan is Husky's largest project to date and places us inside the door of one of the fastest-growing energy markets in the world," said Asim Ghosh, chief executive of the Canada-listed energy firm yesterday. "It was a massive undertaking and is a great achievement for deepwater gas production in the Asia- Pacific region."
Husky has a 49 percent stake in the US$6.5 billion (HK$50.7 billion) Liwan gas project while the rest is held by CNOOC.
It said the initial sales of condensates and natural gas liquids from its first field are expected to amount to about 10,000 to 14,000 barrels of oil equivalent per day. The first production of Liwan has taken about seven years from discovery.
Liwan is located about 300 kilometers southeast of Hong Kong. It has a subsea production system, subsea pipeline transportation and onshore gas processing infrastructure.
Husky is responsible for the deepwater segment of the Liwan project, which is located more than 1,200 meters under water, while CNOOC operates the shallow-water facilities. IMOGENE WONG
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