HONG KONG, June 29, 2020 /CNW/ -- CNOOC Limited (the
"Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today
that the Company made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected
to become the first mid-to-large sized condensate oil and gas field
in the shallow water area of Pearl River Mouth Basin.
The Huizhou 26-6 structure is
located in Huizhou Sag in Zhu1 Depression of Pearl River Mouth
Basin in Eastern South China Sea
with an average water depth of about 113 meters. The discovery well
HZ26-6-1 was drilled and completed at a depth of 4,276 meters and
encountered oil and gas pay zones with a total thickness of
approximately 422.2 meters. The well was tested to produce around
2,020 barrels of oil and 15.36 million cubic feet of gas
respectively per day.
The successful exploration of Huizhou 26-6 oil and gas structure is the
first time that the Company has achieved commercial and highly
productive oil and gas flow in buried hill exploration in
Eastern South China Sea, marking a
significant exploration breakthrough in Paleogene and buried hill
complex oil and gas reservoir in Pearl River Mouth Basin, and
further proving the huge exploration potential in this new
field.
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,
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, the
exploration and development activities, mergers, acquisitions and
divestments activities, environmental responsibility and compliance
requirements, foreign operations and cyber system attacks.
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