HONG KONG, Nov. 27, 2017 /CNW/ -- CNOOC Limited (the
"Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today Libra
block in Brazil has already
started production.
The Libra block is located approximately 180 kilometers off the
Rio de Janeiro coast. The block
had its first oil produced with the Pioneiro de Libra FPSO,
destined to extended well tests, with the purpose of evaluating the
dynamic behavior of the oil reservoir and deepening the knowledge
on the characteristics of the deposit. Pioneiro de Libra has a
daily operational capacity rate up to 50,000 barrels of crude oil
and 4 million cubic meters of associated gas.
The Company holds 10% in the
Libra Consortium, with the operator Petrobras (40%), Shell (20%),
Total (20%) and CNPC (10%).
Mr. Chen Ming, President of CNOOC
International Limited commented, "It is a great pleasure to see the
Libra block reaching an important
milestone, which is the result of our joint efforts with our
partners, and we look forward to better performance in the
future."
Mr. Yuan Guangyu, CEO of the Company commented, "This year, the
company has made great achievements in Brazil. In addition to the Libra block started
production, the Company also has won the bid of ES-M-592 block in
Espírito Santo basin and Alto de
Cabo Frio Oeste block in Santos
basin. These successes will help Company expand overseas business
and lay a good foundation for future development."
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 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:
Mr. Yan Cao
Deputy General Manager, Investor Relations Department
CNOOC Limited
Tel: +86-10-8452-1417
Fax: +86-10-8452-1441
E-mail: caoyan@cnooc.com.cn
Ms. Iris Wong
Hill+Knowlton Strategies Asia
Tel: +852-2894 6263
Fax: +852-2576 1990
E-mail: hl.wong@hkstrategies.com
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SOURCE CNOOC Limited