CNOOC announces start of Panyu project production CNOOC announced that its Panyu 10-2/5/8 project has commenced production. This project includes 3 oilfields, Panyu 10-2, Panyu 10-5 and Panyu 10-8 and was designed to share some facilities of Panyu 4-2 oilfield. The main newly-built production facilities include 1 wellhead platform and 9 producing wells. Currently there are 4 wells producing approximately 9K barrels per day, and the project is expected to hit its peak production of approximately 13K barrels per day in 2015. Panyu 10-2/5/8 is an independent project in which the company holds 100% interest.