HONG KONG, May 23, 2019 /CNW/ -- CNOOC Limited (the
"Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that
the Appomattox Field in the US Gulf of Mexico has safely commenced
production ahead of schedule.
Appomattox Field is located approximately 128 kilometers
southeast of Louisiana in the
deep-water Gulf of Mexico, with
water depth of approximately 2,255 meters. Appomattox is the
first commercial discovery now brought into production in the
deep-water Gulf of Mexico Norphlet formation and has an expected
peak production of 175,000 barrels of oil equivalent per day.
Mr. Yuan Guangyu, CEO of CNOOC Limited commented, "We
are very pleased with the commencement of production ahead of
schedule, as well as the cost reduction that were achieved through
optimization and innovation at Appomattox. Appomattox will become a
new growth driver to our overseas production."
CNOOC Petroleum Offshore U.S.A.
Inc., a wholly owned subsidiary of CNOOC Limited, holds 21%
interest in the Appomattox Field. Shell Offshore Inc. is the
operator and holds 79% interest.
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:
Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Ms. Ada Leung
Hill+Knowlton Strategies Asia
Tel: +852-2894-6225
Fax: +852-2576-1990
E-mail: CNOOC@hkstrategies.com
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SOURCE CNOOC Limited