HONG KONG, Jan. 12, 2017 /CNW/ -- CNOOC Limited (the
"Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that
the Penglai 19-9 comprehensive adjustment project has commenced
production.
Logo -
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The Penglai 19-9 oilfield is located in Bohai which has an
average water depth of approximately 30 meters. In addition to
fully utilizing the existing facilities of Penglai 19-3 oilfield,
this adjustment project has also built one wellhead platform. There
are 57 planned producing wells in total with two wells currently
producing approximately 750 barrels of crude oil per day. The
adjustment project is expected to reach its Overall Development
Program designed peak production of approximately 13,000 barrels of
crude oil per day in 2019.
CNOOC Limited has 51% working interest in Penglai 19-9 oilfield
and acts as the operator, while its partner, ConocoPhillips China
holds the remaining 49% working 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. Michelle Zhang
Deputy Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: MR@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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visit:http://www.prnewswire.com/news-releases/penglai-19-9-comprehensive-adjustment-project-commences-production-300390069.html
SOURCE CNOOC Limited