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The platform was installed at the Kenli field, at a depth of some 20 meters, which has provenreserves of some 100 million tons of crudeoil. CNOOC has installed the largest and heaviest offshore platform at a field in the Bohai Sea, the company said today, boasting the facility was 22.8
For half a century, analysts, environmentalists and policymakers have “cried wolf,” trying to forecast the arrival of “peak oil”—the point at which a country’s oil production hits its maximum and begins an irreversible decline. Who’s to say it won’t happen again in the face of these new predictions of peak oil?
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