CNOOC Limited Announces Pricing of Guaranteed Notes Offering

         CNOOC Limited Announces Pricing of Guaranteed Notes Offering

PR Newswire

HONG KONG, May 2, 2013

HONG KONG, May 2, 2013 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883) announced on May 2, 2013 (New York time) the pricing of its
offering of US$4,000 million aggregate principal amount of guaranteed notes.
The offering consists of US$750 million of 1.125% guaranteed notes due 2016,
US$750 million of 1.750% guaranteed notes due 2018, US$2,000 million of 3.000%
guaranteed notes due 2023 and US$500 million of 4.250% guaranteed notes due
2043 (collectively, the "Notes"). The Notes will be issued by CNOOC Finance
(2013) Limited, a wholly owned subsidiary of the Company incorporated in the
British Virgin Islands, and will be guaranteed by the Company.

(Logo: http://www.prnasia.com/sa/200701301659.jpg )

The net proceeds from this offering are expected to be approximately US$3,942
million. The proceeds are intended to be used mainly to repay part of a US$6.0
billion short-term credit facility that was entered into for the purpose of
financing the Company's recent acquisition of Nexen Inc.

Application has been made to the Hong Kong Stock Exchange for listing of, and
permission to deal in, the Notes. Listing of the Notes on the Hong Kong Stock
Exchange is not to be taken as an indication of the merits of the Notes, the
Company or CNOOC Finance (2013) Limited.

Bank of China (Hong Kong) Limited, Bank of China Limited, BOCI Asia Limited,
China International Capital Corporation Hong Kong Securities Limited,
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman
Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner
& Smith Incorporated and UBS AG, Hong Kong Branch are acting as joint lead
managers and joint bookrunners for the offering.

CCB International Capital Limited, ICBC International Securities Limited,
Scotia Capital (USA) Inc. and Societe Generale are acting as co-managers for
the offering.

The offering of the Notes is made pursuant to an effective shelf registration
statement filed with the United States Securities and Exchange Commission on
May 1, 2013. Copies of the prospectus supplement and the accompanying
prospectus may be obtained from CICC US Securities, Inc, 350 Park Avenue, 28th
Floor, New York, New York 10022, telephone: 1-646-794-8800; Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, telephone: 1-800-831-9146; Credit Suisse Securities
(USA) LLC, Eleven Madison Avenue, New York, New York 10010-3629, telephone:
1-212-325-2000; Prospectus Department, Goldman Sachs & Co, 100 Burma Road,
Jersey City, New Jersey 07305, telephone: 1-866-471-2526 / 1-212-902-1171;
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179,
telephone: 1-212-834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated,
222 Broadway, 11th Floor, New York, New York 10038, telephone: 1-800-294-1322;
or Fixed Income Syndicate, UBS Securities LLC, 677 Washington Boulevard,
Stamford, Connecticut 06901, telephone: 1-203-719-1088.

This document does not constitute an offer to sell or the solicitation of an
offer to buy any of the Notes, nor will there be any sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be unlawful.

Notes to Editors:

CNOOC Limited along with its subsidiaries (the "Group") is an upstream company
specialized in the exploration, development and production of oil and natural
gas. The Group is a dominant oil and natural gas producer in offshore China
and is also one of the largest independent oil and gas exploration and
production companies in the world in terms of reserves and production. 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 "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
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, whether the transactions entered into by the Company
can complete on schedule pursuant to its timetable or at all, 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 2012 Annual Report on Form 20-F
filed on April 24, 2013.

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 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
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: MR@cnooc.com.cn

Ms. Angela Hui
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8091
Fax: +852-2510-8199
E-mail: angela.hui@knprhk.com



SOURCE CNOOC Limited

Website: http://www.cnoocltd.com
 
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