New CNOOC development project in South China Sea marks key offshore milestone

China National Offshore Oil Corporation (CNOOC) has officially launched its adjusted joint development project at the Panyu Oilfield in the South China Sea, marking a significant advancement in China's offshore oil production.

Located about 200 kilometers southeast of Shenzhen, in the Pearl River Estuary Basin of south China's Guangdong Province, the project officially began production on Thursday, according to CNOOC.

The development integrates a newly constructed Panyu 10-1 wellhead platform with the existing Panyu 10-2 platform, along with a new unmanned Panyu 11-12 platform.

Together, these platforms will support 15 oil production wells across the Panyu 10-1, 10-2, and 11-12 oilfields. Once fully operational, the project is expected to produce nearly 2,000 tons of crude oil per day.

"By leveraging intelligent technologies like power networking, 5G communication, and subsea pipeline and cable laying, we've established a multifunctional network that connects with the existing production facilities at the Panyu Oilfield, forming an intelligent oilfield cluster that integrates digitalization, automation and unmanned operations," said Wang Shengdong, general manager, Panyu Operations Company, CNOOC Shenzhen Branch.

In particular, the Panyu 11-12 platform is the first of its kind in China to remotely develop offshore heavy oil fields using unmanned platforms.

The platform can be operated under the "typhoon production mode," allowing for remote operation from land after evacuating offshore personnel during a typhoon. Using satellite transmission, this mode ensures minimal or no production downtime during adverse weather conditions.

The Panyu 11-12 platform also integrates advanced systems for oil and gas separation, heating, and boosting, all of which can be controlled remotely from both the central platform and a land-based control center.

Additionally, the platform has the capability to perform complex tasks, such as remote logging, well killing, and resuming production, making it a crucial innovation for improving both operational efficiency and safety in challenging offshore environments.

New CNOOC development project in South China Sea marks key offshore milestone

As China's elderly population grows, shopping malls in Shanghai have actively adapted part of their services to cater to the needs and preferences of elderly consumers, tapping into silver-haired consumer market.

This trend reflects the city's efforts to enhance elderly care services amid the population aging. By the end of 2023, people aged 60 and older reached 5.68 million in Shanghai, representing a whopping 37.4 percent of the city's total population.

A shopping mall on the downtown Nanjing East Road pedestrian street has opened a dedicated club for senior citizens, offering a diverse range of activities from the operation of health workshops to traditional handicraft classes.

"I gain a lot every time I come here. I can participate in various club activities and also exchange knowledge and everyday life hacks with others," said Fu Meilin, an elderly resident.

The mall houses nearly 60 time-honored brands, along with dining and entertainment options suited to senior citizens.

Another business district in Shanghai's Putuo District has adopted a different approach, focusing on attracting retirees during weekdays while catering to younger shoppers on weekends.

Restaurants offer affordable off-peak meal deals priced under 100 yuan (about 13.88 U.S. dollars), attracting a large number of senior customers.

To ensure a convenient and enjoyable shopping experience for the elderly, many shopping malls have conducted age-friendly renovations, including providing comfortable seating areas, accessible restrooms, and consumer guidance services for the elderly shoppers.

Driven by the population aging, China's "silver economy" has shown vast growth potential, with the market currently estimated at around seven trillion yuan and projected to reach a 30 trillion yuan by 2035.

Shopping malls in Shanghai adapt to cater to growing 'silver economy'