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CNOOC Signs PSC with Shell



                          CNOOC Signs PSC with Shell

PR Newswire

HONG KONG, Aug. 1, 2013

HONG KONG, Aug. 1, 2013 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883) announced today that its parent company, China National
Offshore Oil Corporation (CNOOC) has signed production sharing contract (PSC)
with Shell China Exploration and Production Company Limited (Shell) for Block
35/10 in Yinggehai Basin in the South China Sea.

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

Block 35/10 is located in Yinggehai Basin in the South China Sea. It covers a
total area of 3,427 square kilometers with water depth of 80-110 meters.

According to the terms of the PSC, Shell will conduct 3D seismic data survey
and may drill exploration wells in the block during the exploration period, in
which all expenditures incurred will be borne by Shell. CNOOC has the right to
participate in up to 51% working interest in any commercial discoveries in the
block.

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  "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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