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KERR-MCGEE ACHIEVES FIRST PRODUCTION FROM FIELDS IN BOHAI BAY.
(From Asia Pulse)
(Full text of a statement, contact details below)
OKLAHOMA CITY, Okla., July 20 /PRNewswire-AsiaNet/ -- Kerr-McGee China Petroleum, Ltd., a wholly owned affiliate of Kerr-McGee Corp. (NYSE: KMG), announced that it achieved first production from four wells at its development of the CFD 11-1 and CFD 11-2 fields on block 04/36 in Bohai Bay, China, on July 18. The company expects to have a total of 10 wells on line by the end of July and estimates that production from the 10 wells will range from 15,000 to 20,000 barrels of oil per day (b/d). Kerr-McGee will bring additional wells on production over the next two years, with peak production in the range of 40,000 to 45,000 b/d expected by mid-2005.
Kerr-McGee is operator with 40% interest. Partners in the development are CNOOC Limited (NYSE: CEO), 51%, and Sino American Energy Corp., a subsidiary …
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