For
Immediate Release
CNOOC
Ltd. Announces the Production from BZ28-2S
(Hong
Kong,
March
19,
2009) -
CNOOC Limited (the “Company"
or “CNOOC
Ltd.”,
NYSE: CEO, SEHK: 0883)
announced
today that its Bozhong
(BZ) 28-2S
oil
field
successfully
commenced
production with 4000 barrels of
oil per day via 4
wells.
BZ
28-2S, located in the
south
of Bohai Bay with
a water depth of 21 meters, is the
largest field among
all
the oil projects expected to come on
stream this year offshore
China.
BZ
28-2S, together with BZ29-4, BZ28-2SN and BZ34-1N, is
subject
to joint
development
to maximize the
commercial value. These
oil fields, adjacent to each other, are collectively named
as BZ28-2S
oil fields, of which BZ28-2S is the first to start production.
The
production is
expected to
ramp
up an
average 25,000
barrels of oil per day by
2011.
The
main development facilities
include one central platform, 49 wells and one FPSO. By sharing
facilities, BZ28-2S
and other fields will be developed
in a more
effective way.
According
to the Company’s
2009 plan, there
will be five new
projects coming on stream in
Bohai Bay.
The early start-up of BZ28-2S will serve
to accelerate the development of
the
other
four projects.
BZ28-2S
is an independent field of CNOOC
Ltd which was discovered in 2006.
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 2007 Annual Report on Form 20-F filed on June 26,
2008.
*** *** ***
***
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
E-mail: xiaozw@cnooc.com.cn
Ms. Sharon
Fung
Ketchum Newscan
Public Relations Ltd
Tel: +852-3141-8082
Fax:
+852-2510-8199
E-mail: Sharon.fung@knprhk.com