Ms. Michelle Zhang reports

CNOOC LIMITED ANNOUNCES PRICING OF GUARANTEED NOTES OFFERING

CNOOC Ltd. has priced its offering of $4,000-million (U.S.) aggregate principal amount of guaranteed notes. The offering consists of $1,250-million (U.S.) of 1.625-per-cent guaranteed notes due 2017, $2,250-million (U.S.) of 4.250-per-cent guaranteed notes due 2024 and $500-million (U.S.) of 4.875-per-cent guaranteed notes due 2044. The notes will be issued by CNOOC Nexen Finance (2014) ULC, an indirect wholly owned subsidiary of the company incorporated in Nova Scotia, Canada, and will be guaranteed by the company.

The net proceeds from this offering are expected to be approximately $3,963.2-million (U.S.). The proceeds are intended to be used in part for repaying all or a part of a $2.0-billion (U.S.) facility that was entered into for the purpose of repaying part of the bridge loan that financed the company's acquisition of Nexen Inc. The remaining proceeds, if any, will be used for general corporate purposes.

Application has been made to the Stock Exchange of Hong Kong for listing of, and permission to deal in, the notes by way of debt issue to professional investors only. Listing of the notes on the Stock Exchange of Hong Kong is not to be taken as an indication of the merits of the notes, the company or CNOOC Nexen Finance (2014).

BOCI Asia Ltd., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank AG, Singapore branch, Goldman Sachs (Asia) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. International PLC and UBS AG, Hong Kong branch, are the joint lead managers and joint bookrunners for the offering.

The offering of the notes is made pursuant to the company's shelf registration statement on Form F-3 (file No. 333-188261) filed with the U.S. Securities and Exchange Commission on May 1, 2013, as amended by the posteffective amendment No. 1 to the registration statement filed with the U.S. SEC on April 22, 2014. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Citigroup Global Markets Inc., care of Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, telephone 1-800-831-9146; Credit Suisse Securities (USA) LLC, 11 Madison Ave., New York, N.Y., 10010-3629, United States of America, telephone 1-212-325-2000; prospectus group, Deutsche Bank AG, Singapore branch, care of Deutsche Bank Securities Inc., 60 Wall St., New York, N.Y., 10005, telephone 1-800-503-4611; prospectus department, Goldman Sachs & Co., 200 West St., New York, N.Y., 10282, telephone 1-866-471-2526/1-212-902-9316; J.P. Morgan Securities LLC, 383 Madison Ave., New York, N.Y., 10179, United States of America, telephone 1-212-834-4533; prospectus department, Morgan Stanley & Co. LLC, 180 Varick St., New York, N.Y., 10014, telephone 1-866-718-1649; or fixed-income syndicate, UBS Securities LLC, 677 Washington Blvd., Stamford, Conn., 06901, telephone 1-203-719-1088.

We seek Safe Harbor.