HONG
KONG, Oct. 22, 2023 /PRNewswire/ -- CNOOC
Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB
Counter), SSE: 600938) announces today that it has discovered the
Shenfu deep coalbed methane (CBM) field in China, adding proved gas in-place of over 100
billion cubic meters.
The Shenfu deep CBM field is located in Yulin, Shaanxi Province at the eastern edge of Ordos
Basin. With continued research and exploration, the Company has
advanced its understanding of deep coalbed methane formation
mechanism, reservoir transformation and differentiated drainage
technology, which have led to the successful discovery of the
Shenfu deep CBM field. The discovery well SM2-33-CH1 encounters
16.5 meters of coal seam at a burial depth of approximately 2,011
meters, which is tested to produce approximately 19,000 cubic
meters per day after fracturing operations. The Chinese
governmental authorities have evaluated and approved the proved gas
in-place of over 110 billion cubic meters, making it China's first large deep CBM field of the
scale. It is another major onshore discovery by CNOOC Limited after
the discovery made in Linxing, Shanxi
Province, with similar proved gas in-place volumes.
Mr. Xu Changgui, Deputy Chief Exploration Engineer of the
Company, said, "The discovery of the Shenfu deep CBM field
demonstrates the broad prospect of exploration and development in
the eastern edge of the Ordos Basin. It will provide important
guidance for our exploration in similar basins and facilitate the
growth of our reserves and production of unconventional oil and
gas."
Mr. Zhou Xinhuai, CEO and the President of the Company, said,
"The discovery lays a solid foundation for the Company to build a
large onshore gas production base, which will tap up to one
trillion cubic meters of proved gas in-place. To that end, we will
continue to step up our efforts in the exploration and development
of onshore unconventional gas, to increase our reserves and
production, and to contribute to the high-quality development of
the Company."
— End —
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
*** *** *** ***
This press release includes forward looking information,
including statements regarding the likely future developments in
the business of the Company and its subsidiaries, such as expected
future events, business prospects or financial results. The words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify such
forward-looking statements. These statements are based on
assumptions and analyses made by the Company as of this date in
light of its experience and its perception of historical trends,
current conditions and expected future developments, as well as
other factors that the Company currently believes are appropriate
under the circumstances. However, whether actual results and
developments will meet the current expectations and predictions of
the Company is uncertain. Actual results, performance and financial
condition may differ materially from the Company's expectations,
including but not limited to those associated with fluctuations in
crude oil and natural gas prices, macro-political and economic
factors, changes in the tax and fiscal regimes of the host
countries in which we operate, the highly competitive nature of the
oil and natural gas industry, environmental responsibility and
compliance requirements, the Company's price forecast, the
exploration and development activities, mergers, acquisitions and
divestments activities, HSSE and insurance policies and changes in
anti-corruption, anti-fraud, anti-money laundering and corporate
governance laws.
Consequently, all of the forward-looking statements made in this
press release are qualified by these cautionary statements. The
Company cannot assure that the results or developments anticipated
will be realised or, even if substantially realised, that they will
have the expected effect on the Company, its business or
operations.
*** *** *** ***
For further enquiries, please contact:
Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Mr. Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com
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SOURCE CNOOC Limited