HONG KONG, Nov. 23, 2021 /PRNewswire/ -- CNOOC Limited
(the "Company", SEHK: 00883, TSX: CNU) today announced the
commencement of production of Lufeng oil fields regional
development project.
The Lufeng oil fields is located in Eastern South China Sea and mainly include
Lufeng 14-4 oil field, Lufeng 14-8 oil field, Lufeng 15-1 oil field
and Lufeng 22-1 oil field, with an average water depth of about
140-330 meters. The main production facilities include 2 drilling
production platforms and 1 subsea production system. 35 development
wells are planned to be put into production, including 26
production wells and 9 water injection wells. The project is
expected to achieve its peak production of approximately 46,000
barrels of crude oil per day in 2023.
CNOOC Limited owns 100% interest in the Lufeng oil fields
regional development project.
Mr.Xia Qinglong, president of the Company, commented, "The
project adopts an integrated model of exploration, development and
production, which maximized the asset value of oil fields region,
meanwhile the safe commencement of production also safeguarded
energy supply throughout the Greater Bay Area."
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 that 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 the Company and its controlling shareholder being
listed in the list of the U.S. for sanction against companies with
alleged ties to the Chinese military, 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. 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. Liu Jing
Deputy Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
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