HONG KONG, Feb. 5, 2018
/CNW/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX:
CNU) announced today that the Stampede Field, located in the
deepwater Gulf of Mexico, has
commenced production.
The Stampede Field is located in the Gulf of Mexico, approximately 185 kilometers
south of Fourchon, Louisiana,
U.S.A. It is positioned in approximately 1,066 meters of
water, with a reservoir depth of 9,100 meters.
The facility is designed for a gross topsides processing
capacity of approximately 80,000 barrels of oil per day, 40 million
standard cubic feet of natural gas per day, and 100,000 barrels of
water injection capacity per day. Under the current development
scope, production facilities will consist of six subsea production
wells and four water injection wells tied back to a Tension Leg
Platform (TLP). Three production wells are currently completed, and
production is expected to ramp up through 2018.
Nexen Petroleum Offshore U.S.A.
Inc., a wholly owned affiliate of CNOOC Limited, has a 25 percent
working interest in Stampede Field. Hess Corporation, Union Oil
Company of California, a
subsidiary of Chevron Corporation and Statoil Gulf of Mexico LLC,
each have a 25 percent working interest while Hess is the
operator.
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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 analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions and expected future developments, as well as other
factors the Company believes are appropriate under the
circumstances. However, whether actual results and developments
will meet the expectations and predictions of the Company depends
on a number of risks and uncertainties which could cause the actual
results, performance and financial condition to differ materially
from the Company's expectations, including but not limited to 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 Group can complete on schedule pursuant to
their terms and 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 files
from time to time with the United States Securities and Exchange
Commission, including the Annual Report on Form 20-F filed in April
of the latest fiscal year.
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. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86 10 8452 3404
Fax: +86 10 8452 1441
E-mail: liujing1@cnooc.com.cn
Ms. Iris Wong
Hill+Knowlton Strategies Asia
Tel: +852-2894 6263
Fax:+852-2576 1990
E-mail: cnooc@hkstrategies.com
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SOURCE CNOOC Limited