HONG KONG, Nov. 24, 2014 /CNW/ - CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883, TSX: CNU) announced today that the Huizhou 25-8
Oilfield/Xijiang 24-3 Oilfield Xijiang 24-1 District Joint Development
Project has commenced production.
This project is located in the Pearl River Mouth Basin of the South
China Sea with an average water depth of approximately 100 meters. The
main production facilities include 2 drilling and production platforms
and 29 producing wells. Currently, there are 4 wells producing
approximately 6,300 barrels of crude oil per day, and the project is
expected to reach peak production of approximately 33,000 barrels per
day in 2016.
This project is an independent project in which the Company holds a 100%
equity interest and acts as the operator.
The Xijiang 24-3 oilfield started production in November 1994 and the
operator was Phillips China INC.. In January 2010 the operatorship
transferred to CNOOC Limited. Xijiang 24-1 district is the adjustment
project for this oilfield. The Huizhou 25-8 oilfield and Xijiang 24-3
oilfield Xijiang 24-1 district project is a joint development project
sharing one floating production storage and offloading unit (FPSO).
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
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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 the 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.
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SOURCE CNOOC Limited
<p> </p> <p> For further enquiries, please contact: </p> <p> Ms. Michelle Zhang<br/> Deputy Manager, Media / Public Relations<br/> CNOOC Limited<br/> Tel: +86-10-8452-6642<br/> Fax: +86-10-8452-1441<br/> E-mail: <a href="mailto:MR@cnooc.com.cn">MR@cnooc.com.cn</a> </p> <p> Ms. Cathy Zhang<br/> Hill+Knowlton Strategies Asia<br/> Tel: +852-2894 6211<br/> Fax: +852-2576 1990<br/> E-mail: <a href="mailto:cathy.zhang@hkstrategies.com">cathy.zhang@hkstrategies.com</a> </p>