ConocoPhillips resumes output at Penglai
ConocoPhillips received approval to resume production at the Penglai 19-3 oilfield off the northeast coast of China, which was closed in 2011 after an oil leak.
A development plan and environmental assessment report for the oilfield have been approved, China's State Oceanic Administration said in a statement on its website. The regulator will monitor the area while Houston-based ConocoPhillips restarts operations, it said.
The administration ordered operations at the Penglai field to shut down in September 2011 after at least 3,200 barrels of oil and fluids leaked into Bohai Bay. ConocoPhillips and its Chinese partner China National Offshore Oil Corp have cleaned up the spill and agreed to pay about $160 million in compensation to fishermen.
