Summary of Huagang Group Oil Reservoir Development, Pinghu Oil & Gas Field

Pinghu oil &gas field, the first developed field in the East China Sea, has been developed for 3 years.It started to produce crude oil in November 1998 and natural gas in April 1999.At the end of June, 2002, the field included 7 oil wells (4 direction, 3 horizontal)and the produced crude oil, natural gas (including dissolve gas), condensate oil are 247.2×10⁴m³, 11×10⁸m³ and 18.7×10⁴m³ respectively.The oil recovery percent is 23.6%, field water cut is 61% and natural gas recovery is 8.3%.The yearly crude oil output is more than 50×10⁴t, the yearly off-take rate is maintained above 7%.Looking back the 3 years' development road, we got a lot of success and as well as lessons and we hope our experience be helpful to the development of other field in the East China Sea.