HONG
KONG, Sept. 27, 2024 /PRNewswire/ -- CNOOC
Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB
Counter), SSE: 600938) announces today that Shenhai-1 Phase II
Natural Gas Development Project has commenced production.
The project is located in the Qiongdongnan Basin, northern South
China Sea, with an average water depth of approximately 900 meters.
The main production facilities include a new fixed production
platform and 3 centralized subsea wellheads, with 12
development wells planned to be commissioned.It is expected to
reach peak production of 162 million cubic feet of natural gas and
3,931 barrels of condensate per day in 2025.
Mr. Wang Dongjin, Chairman of the Company, said, "The project
has successfully overcome the world-class challenge of deep-water
high-pressure oil and gas reservoir development. It witnesses
effective large-scale conversion of reserves into production from
the 'South China Sea trillion-cubic-meters-level gas region', and
provides stable supply of clean energy for the economic and social
development of South China. In the
future, CNOOC Limited will accelerate the development of new
quality productivity of marine energy, and strengthen the
exploration and development of deep-water oil and gas resources,
thereby further contributing to the high-quality development of
China's offshore oil
industry."
CNOOC Limited holds 100% interest in this project and is the
operator.
— 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 macro-political
and economic factors, fluctuations in crude oil and natural gas
prices, the highly competitive nature of the oil and natural gas
industry, climate change and environmental policies, the Company's
price forecast, mergers, acquisitions and divestments activities,
HSSE and insurance policies and changes in anti-corruption,
anti-fraud, anti-money laundering and corporate
governance laws and regulations.
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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cnooc-limited-brings-on-stream-shenhai-1-phase-ii-natural-gas-development-project-302260822.html
SOURCE CNOOC Limited