Qikou 18-1 Adjustment Project Starts Production
HONG KONG, Dec. 18, 2013
HONG KONG, Dec. 18, 2013 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883, TSX: CNU) announced today that Qikou 18-1 adjustment project
has recently commenced production.
(Logo: http://www.prnasia.com/sa/200701301659.jpg )
Qikou 18-1 oil field is located in the west part of Bohai with an average
water depth of 10 meters. In addition to fully utilize the existing producing
facilities, this adjustment project has also built one plug-in processing
facility and two production platforms. The commencement of this project will
further improve the production and overall processing capability of the field
and make the development of this field more effectively. The adjustment
project is expected to hit its peak production in 2014.
Qikou 18-1 is an independent oil field in which the Company holds 100%
interest and acts as the Operator.
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
Ms. Cathy Zhang
Hill+Knowlton Strategies Asia
SOURCE CNOOC Limited
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