Abstract
On Feb. 22nd of 2009, Operator ship of LF13-1 Oil Field was transferred from Tokyo 3 company (JAPEX New Nanhai, New Huanan and NMC) to CNOOC after it's 15 years commercial production period and petroleum contract terminated..
LF13-1 Oil Field is located at south china sea, about 250 km south east of Hong Kong in a water depth of 145m. Production of this oil field started in October 1993. Cumulative Production from the beginning until the termination of petroleum contract reached more than 70 MMbbl, which was more than double of ODP forecast.
At the beginning of this project, Tokyo 3 company and CNOOC faced serious financial problem because of the soaring of construction cost and low oil price. In spite of the difficulties, 4 companies jointly made every effort to survive this oil field. Totally 7 development drilling campaigns were carried out to maximize the production from this oil field and made every efforts to lower the operation cost.
This paper outlines exploration phase, development phase and production phase of this project to know how this marginal oil field became excellent oil field at the last.
