SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For June 7, 2006
CNOOC Limited
(Translation of registrant's name into English)
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65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
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(Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
Company Press Release
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CNOOC and BG Join Hands in Offshore China
(Hong Kong, June 7, 2006) - CNOOC Limited (NYSE: CEO, SEHK: 883, "the
Company") announced today that its parent company, China National Offshore Oil
Corporation (CNOOC) has inked two production sharing contracts (PSC) with BG
Group (BG) for deepwater blocks 64/11 and 53/16 in the Western South China
Sea. In the meantime, a Geophysical Survey Agreement (GSA) on block 41/06 in
the Eastern South China Sea has been signed between the two parties.
Both of the PSC blocks are located in the Qiong Dong Nan basin, and block
41/06 is in the Pearl River Mouth Basin. These three blocks are on the list of
12 blocks CNOOC offered for cooperation in 2002, covering a total area of
approximately 25,800 square kilometers in water depth ranging form 180 to 2100
meters.
This is the first step for CNOOC and BG to cooperate in offshore China.
Previously, four deepwater contracts have already been signed between CNOOC
and its foreign partners.
Under the terms of the contracts, BG will conduct 2D and 3D seismic in Block
64/11 and 53/16, and drill 1 exploration well during the first phase of the
exploration period on each block. BG will retain 100 percent interests during
the exploration phase and the Company has the right to participate up to 51%
working interest in any commercial discoveries in the blocks.
According to the GSA on Block 41/06, BG is committed to acquire 2D seismic
data and conduct processing and interpretation of current data.
Mr. Fu Chengyu, Chairman and CEO of the Company said, "We welcome BG's
decision to join us in exploring the deep water potential offshore China. I
expect a successful partnership, which would bring value to both companies. "
- End -
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
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This press release contains statements that are not historical facts,
including statements about beliefs and expectations of the directors of the
Company on the Company and its development and future plans. These
forward-looking statements reflect the directors' current
views with respect to future events and are not a guarantee of future
performance, and therefore shareholders and potential investors should not
place undue reliance on them. The directors of the Company undertake no
obligation to update or revise publicly any of these forward-looking
statements, whether in light of new information, future events or otherwise.
Forward-looking statements involve inherent risks and uncertainties.
Shareholders and potential investors are cautioned that a number of factors
could cause actual results to differ materially from those contained in any
forward-looking statement. Such factors include, but are not limited to,
changes in the Chinese economic, political and social conditions and
government policies and in the oil and gas industry.
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For further enquiries, please contact:
Mr. Xiao Zongwei
General Manager of Investor Relations
CNOOC Limited
Tel: +86-10-8452-1646
Fax: +86-10-8452-1441
E-mail: xiaozw@cnooc.com.cn
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Ms. Sharon Fung
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8082
Fax: +852-2510-8199
E-mail: Sharon.Fung@knprhk.com
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report on Form 6-K to be signed
on its behalf by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Victor Zhikai Gao
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Name: Victor Zhikai Gao
Title: Company Secretary
Dated: June 7, 2006