Peng Lai is the largest offshore oilfield ever discovered in China, identified by the government as one of the country’s most important development projects across any industry sector. 

The Peng Lai field was discovered in 1999, and lies within the 1.6 million acre Bozhong Block 11/05 of the Bohai Sea, a giant ocean bay in the northeast of the country. Six successful appraisal wells followed its discovery, with a full field development plan for a two-phase development. 

The first phase, referred to as an early oil production project, came on stream at the end of 2002 through a wellhead platform and converted FPSO. Phase two covers not only the original Peng Lai discovery in the PL 19-3 area of the 11/5 license, but also two later discoveries – PL 25-6, made in 2000, and PL 19-9, made in 2003. Production from phase two started in the first half of 2007, following installation of the second wellhead platform in the fourth quarter of the year. 

Development of the Peng Lai Phase II project is ongoing. This phase includes the installation of five additional drilling and production platforms and the construction of one of the largest FPSOs in the world today - the Peng Bo FPSO (also named °Hai Yang Shi You 117" FPSO). The nearby Peng Lai 19-9 and 25-6 fields are being developed in conjunction with Phase II. Four of the five platforms have been installed and the Peng Bo FPSO started operations in May 2009. Production from Peng Lai oilfield continues to ramp up and is expected to reach approximately 69,000 BOPD net crude oil at plateau in 2011. In 2009, daily net crude oil production from Bohai Block 11/05 averaged approximately 33,000 BOPD.