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Potential Energy Oil & Gas Announces Official Commissioning of Weizhou 5-3 Oilfield Development Project
2 week ago /
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Author：小编
Potential Energy Oil & Gas has announced the official commencement of production at the Weizhou 5-3 Oilfield on June 6, 2025. This project, a collaborative effort between its wholly-owned overseas subsidiary Wisdom Oil and China National Offshore Oil Corporation (CNOOC), marks a significant milestone in offshore oil exploration. CNOOC holds a 51% equity stake in the project, with Wisdom Oil holding the remaining 49%. The project envisages the deployment of 10 wells, with the inaugural well having successfully concluded its drilling and completion operations. By 2026, it is anticipated that the oilfield will attain a peak production capacity of approximately 10,000 barrels of oil equivalent per day.
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