Two New Oil Fields in Beibu Gulf Start Production Successfully
HONG KONG, Oct. 18, 2012
HONG KONG, Oct. 18, 2012 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883) today announced that two new oil fields, Weizhou 11-2 and
Weizhou 6-9/6-10, successfully commenced production.
(Logo: http://www.prnasia.com/sa/200701301659.jpg )
Weizhou 11-2 oil field, located in Beibu Gulf in the South China Sea with an
average water depth of about 35.4 meters, currently has 4 producing wells.
This oilfield was designed to share the existing facilities of Weizhou oil
fields group in production to achieve the low-cost oil field development and
hit its peak production of approximately 3,960 barrels per day in 2012.
Weizhou 6-9/6-10 oil field is located in Beibu Gulf in the South China Sea
with an average water depth of about 32.5 meters. The development and
production operations of this oil field primarily rely on the facilities of
its surrounding oil fields. Currently with 9 producing wells, Weizhou 6-9/6-10
is expected to hit its peak production of approximately 5,870 barrels per day
Weizhou 11-2 and Weizhou 6-9/6-10 are both independent oil fields. The Company
holds 100% interest and acts as the Operator of these two oil fields.
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
analysis made by the Company in light of its experience and perception of
historical trends, current conditions and expected future developments, as
well as other factors that the Company believes reasonable under the
circumstances. However, whether actual results and developments will meet the
Company's expectations and predictions depends on a number of risks and
uncertainties which could cause the actual results, performance and financial
conditions to differ materially from the Company's expectations, including
those associated with fluctuations in crude oil and natural gas prices, the
exploration or development activities, the capital expenditure requirements,
the business strategy, the highly competitive nature of the oil and natural
gas industries, the foreign operations, environmental liabilities and
compliance requirements, and economic and political conditions in the People's
Republic of China. For a description of these and other risks and
uncertainties, please see the documents the Company has filed from time to
time with the United States Securities and Exchange Commission, including 2011
Annual Report on Form 20-F filed on April 20, 2012.
Consequently, all of the forward-looking statements made in this press release
are qualified by these cautionary statements. The Company cannot assure that
the actual results or developments anticipated will be realized or, even if
substantially realized, that they will have the expected effect on the
Company, its business or operations.
For further enquiries, please contact:
Ms. Michelle Zhang
Deputy Manager, Media / Public Relations
Ms. Angela Hui
Ketchum Newscan Public Relations Ltd
SOURCE CNOOC Limited
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