HONG KONG, Oct. 25, 2013 /CNW/ - CNOOC Limited (the "Company", NYSE: CEO,
SEHK: 00883, TSX: CNU) announced today that the first production from the
Rochelle gas-condensate field in the UK North Sea has commenced. At Rochelle
field, Nexen Petroleum U.K. Ltd. ("Nexen UK"), a wholly-owned subsidiary of
the Company, acts as the field operator.
The Rochelle field in Blocks 15/26b, 15/26c and 15/27 lies approximately 115
miles northeast of Aberdeen. The field development consists of the
construction of two subsea production wells (East and West Rochelle) and the
installation of a production pipeline to the Scott platform.
Initial production is from West Rochelle. Drilling continues on East Rochelle,
which is expected to be on-line during the fourth quarter of this year. All
production from Rochelle will be processed at the Nexen UK-operated Scott
At Rochelle field, Nexen UK has 41% interest, with other partners being
Endeavour International Corporation (44%) and Premier Oil (15%). Nexen UK has
a 41.9% working interest in the Scott platform.
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.
SOURCE CNOOC Limited
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:
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CO: Nexen Inc.
NI: OIL FIELD COS
-0- Oct/25/2013 08:30 GMT
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