HONG
KONG, Aug. 7, 2024 /PRNewswire/ -- CNOOC Limited
(the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter),
SSE: 600938) announces today that Chinese governmental authorities
have approved the proved gas in-place of Lingshui 36-1 gas field,
which stands at over 100 billion cubic meters. It is the first
large-size ultra-shallow gas field in ultra-deep water in the
world, which opens up a new area of exploration in deep waters.
Lingshui 36-1 gas field is located in the southern portion of
the Central Sag, Qiongdongnan Basin. The average water depth of the
gas field is approximately 1,500 meters, and the burial depth is
210 meters, making it a typical ultra-deep-water ultra-shallow gas
field. The field has been tested to produce over 10 million cubic
meters per day of absolute open flow natural gas.
The Company has been searching for oil and gas resources in the
South China Sea for decades. Multiple large-size gas fields have
been discovered in Yinggehai, Qiongdongnan and Pearl River Mouth
basins, namely Dongfang 1-1, Liwan 3-1, Lingshui 17-2, Baodao 21-1
and now, Lingshui 36-1. By far, the total proved gas in-place in
the region has exceeded one trillion cubic meters. The South China
Sea trillion-cubic-meters gas region has thus become reality.
Mr. Xu Changgui, Chief Geologist of the Company, said,
"Ultra-shallow gas reservoirs are important sources of hydrocarbon
in deep waters. However, you must overcome world-class challenges
to explore and develop the reservoirs. CNOOC Limited has adopted
new exploration concepts on the formation mechanism and new
technological approaches to tackle the challenges. The successful
discovery of Lingshui 36-1 has opened up the new area of
exploration for gas resources in ultra-deep-water ultra-shallow
plays."
Mr. Zhou Xinhuai, CEO and President of the Company, said, "The
newly discovered ultra-deep-water ultra-shallow gas field is an
important composition of the trillion-cubic-meters gas region in
the South China Sea. The completion of the trillion-cubic-meters
gas region embodies the enormous achievements CNOOC Limited has
accomplished in the South China Sea in the past 40 years. We have
now embarked on a new journey to further expand the resource base
of the Company. CNOOC Limited is committed to supplying the society
with stable clean energy and contributing to the low-carbon
development of the economy."
— End —
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
*** *** *** ***
This press release includes forward looking information,
including statements regarding the likely future developments in
the business of the Company and its subsidiaries, such as expected
future events, business prospects 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 as of this date in
light of its experience and its perception of historical trends,
current conditions and expected future developments, as well as
other factors that the Company currently believes are appropriate
under the circumstances. However, whether actual results and
developments will meet the current expectations and predictions of
the Company is uncertain. Actual results, performance and financial
condition may differ materially from the Company's expectations,
including but not limited to those associated with fluctuations in
crude oil and natural gas prices, macro-political and economic
factors, changes in the tax and fiscal regimes of the host
countries in which we operate, the highly competitive nature of the
oil and natural gas industry, environmental responsibility and
compliance requirements, the Company's price forecast, the
exploration and development activities, mergers, acquisitions and
divestments activities, HSSE and insurance policies and changes in
anti-corruption, anti-fraud, anti-money laundering and
corporate governance laws.
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 realised or, even if substantially realised, that they will
have the expected effect on the Company, its business or
operations.
*** *** *** ***
For further enquiries, please contact:
Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Mr. Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com
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SOURCE CNOOC Limited