BEIJING, Feb. 17 (Xinhua) -- The seventh phase of the Buzios oilfield (Buzios7 Project) in Brazil began production on February 15, according to China National Offshore Oil Corporation (CNOOC), which has participated in the construction and holds an interest of the project.
Located in the Santos Basin off the southeastern coast of Brazil with an average water depth of about 2,000 meters, the project is expected to reach a production capacity of 225,000 barrels of oil and 12 million cubic meters of natural gas per day.
The Buzios7 Project is a successful example of close collaboration and exceptional execution between China and Brazil, showcasing the efficiency of international cooperation in resource integration, project management, and technological innovation, said Huang Yehua, president of CNOOC Brazil.
The Brazilian side of the project also acknowledged that the strong partnership between China and Brazil in oil exploration is poised to lead to even brighter and broader prospects for cooperation.
(Edited by Cui Zhaona, Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org)
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