On this day, 29 years ago, on May 27, 1996 (April 11, 1996, the lunar calendar), my country's largest offshore oil field was fully put into operation. The seven commissioning ceremony for the Liuhua 11--1 Oilfield, my country's largest offshore oil field, ranked first in the world and ranked internationally in development and production technology, was held in Beijing on May 27, 1996. Premier Li Peng and Vice Premier Zou Jiahua met respectively with Mr. Fu Le, Chairman of Amoco Company of the United States, and Mr. McPherson, Chairman of Comerch Company, who came to participate in the celebration activities, and expressed warm congratulations on the production of the oilfield. Liuhua Oilfield was jointly developed by China National Offshore Oil Corporation, Amoco Oil Company and Comedy Oil Company of the United States. It is located 190 kilometers southeast of Hong Kong, with a water depth of more than 300 meters. Its geological oil reserves are about 200 million tons, and its peak annual output can reach 2.5 million tons. This is also by far the largest Sino-foreign cooperative oil field in my country's sea, with a total investment of US$620 million. Liuhua Oilfield was discovered in 1987. Due to its location in deep water and typhoon-prone areas, extremely harsh sea conditions, and unfavorable factors such as viscous crude oil and low formation pressure, the development difficulty of this oilfield is rare in the world. From 1987 to 1992, an engineering team composed of experts from China Nanhai Eastern Petroleum Company and Amoco Petroleum Company of the United States conducted various tests and explorations, and finally achieved breakthrough results and found an original development plan. According to domestic and foreign experts, the development and construction of Liuhua Oilfield uses many newly developed technical equipment from the oil and gas industry, which represents the highest level of current offshore oil and gas development projects in the world. Especially in the underwater wellhead production system, this oilfield has created seven world firsts: for the first time, horizontal well development has been fully adopted in a large oilfield with more than 20 wells; It was the first time to use an underwater horizontal Christmas tree; it was the first time to apply electric submersible pump technology to an underwater wellhead production system to collect oil.