CNOOC Limited Announces New Fields Brought on Stream Ahead of Schedule
December 30 2009 - 4:20AM
PR Newswire (US)
HONG KONG, Dec. 30 /PRNewswire-Asia/ -- CNOOC Limited (the
"Company" or "CNOOC Ltd.", NYSE: CEO, SEHK: 0883) announced today
that JinZhou 25-1 South (JZ25-1S) and Caofeidian (CFD)18-2 oil and
gas fields in Bohai Bay have commenced production ahead of
schedule. Another two oil fields BoZhong (BZ) 13-1 and BoZhong 34-1
North (BZ34-1N) started production in December as planned. (Logo:
http://www.prnasia.com/xprn/sa/200701301659.jpg ) JZ25-1S oil and
gas field began its production in mid-December ahead of its
scheduled date. It's located in Liaodong Bay with averaged water
depth of about 25 meters. JZ25-1S is expected to reach its peak
production at 2012, with oil production at 20 thousand barrels and
gas production 53 million cubic feet per day. The well A18 of JZ
25-1S has been gradually increasing its production to a daily rate
of 6,000 barrels of oil equivalent. Another two fields, BZ13-1 in
the western Bohai Bay and BZ 34-1N in the southern Bohai Bay were
also brought on stream recently as scheduled. The peak production
of both fields will be achieved in 2010 at approximately 12,000
barrels of oil equivalent per day. Mr. ChenBi, Executive Vice
President and General Manager of TianJin Branch said, "The
effective implementation of newly start up oil fields highlights
the Company's project management ability. With the outstanding
performance of this area, we believe Bohai Bay will further
contribute to the production growth of the Company." All of these
fields are independent projects of CNOOC Limited. The Company owns
100% working interest and acts as the operator. Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com/ . This press release includes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995, including
statements regarding expected future events, business prospectus or
financial results. The words "believe", "intend", "expect",
"anticipate", "project", "estimate", "plan", "predict" and similar
expressions are intended to identify such forward-looking
statements. These statements are based on assumptions and analyses
made by us that we believe are reasonable under the circumstances.
However, whether actual results and developments will meet our
expectations and predictions depend on a number of risks and
uncertainties which could cause our actual results, performance and
financial condition to differ materially from our expectations. For
a description of these and other risks and uncertainties, please
see the documents we file from time to time with the United States
Securities and Exchange Commission, including our 2008 Annual
Report on Form 20-F filed on May 8, 2009. For further enquiries,
please contact: Mr. Xiao Zongwei Joint Company Secretary and
General Manager of Investor Relations Department CNOOC Limited Tel:
+86-10-8452-1646 Fax: +86-10-8452-1441 Email: Ms. Sharon Fung
Ketchum Newscan Public Relations Ltd Tel: +852-3141-8082 Fax:
+852-2510-8199 Email: DATASOURCE: CNOOC Limited CONTACT: Mr. Xiao
Zongwei, Joint Company Secretary and General Manager of Investor
Relations Department of CNOOC Limited, +86-10-8452-1646, or fax,
+86- 10-8452-1441, or ; or Ms. Sharon Fung of Ketchum Newscan
Public Relations Ltd, +852-3141-8082, or fax, +852-2510-8199, or ,
for CNOOC Web Site: http://www.cnoocltd.com/
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