The eastern oilfield in the South China Sea, where the Lufeng 14-4 oilfield is located, is the second largest offshore energy base in China, with a cumulative increase in crude oil production of 3.25 million tons in the past three years, accounting for about one-third of the national crude oil’s increase value in the same period. During the development of the Lufeng 14-4 oilfield, China National Offshore Oil Corporation has ranked first in China's offshore oil and gas exploration, development technology and engineering construction, including independently designing and building the largest offshore crude oil production platform in China with the highest equipment localization rate.

According to Wu Yiming, the general manager of Lufeng Oilfield Operation Area of Shenzhen Branch of CNOOC (China) Co, when the field comes on stream, peak annual production will exceed 1 million tons, boosting crude oil production capacity in the eastern part of the South China Sea by 10%.

In recent years, a number of old oil fields in the eastern part of the South China Sea have been depleted. The successful production of the Lufeng 14-4 oil field has carved out new path for the large-scale development of offshore low-permeability reservoirs.