CNOOC's Buzios7 project begins production in Brazil

CNOOC Limited announced on Monday that its Buzios7 project, located in the Santos Basin off the southeast coast of Brazil, has safely commenced production.

With a water depth of 1,900 to 2,200 meters, the Buzios oilfield is the largest deep-water pre-salt oilfield in the world. With Buzios7 on-stream, the oilfield is expected to produce up to 1 million barrels of crude oil per day in the second half of 2025, it said.

The floating, production, storage and offloading (FPSO) vessel used for the Buzios7 project is one of the largest in the world, boasting a processing capacity above the industry average. It is capable of producing up to 225,000 barrels of crude oil, processing 12 million cubic meters of natural gas daily, and storing 1.4 million barrels of crude oil, the company said.