HONG KONG, Feb.
13, 2022 /PRNewswire/ -- CNOOC
Limited (the "Company", SEHK: 00883) announced today that Liza
Phase II had commenced production safely and ahead of schedule.
Liza Phase II locates in the Stabroek Block offshore
Guyana and produces with 1 FPSO
and 30 subsea wellheads. The FPSO is the second production facility
in the Block following the one serving Liza Phase I. It was
constructed in China and
Singapore, and arrived in
Guyana in October 2021. It is moored in water depth of
about 1,650 meters and will be able to store around 2 million
barrels of crude oil. Liza Phase II is expected to reach its peak
production of approximately 220,000 barrels of crude oil per day
within this year.
"Liza Phase II achieved an auspicious start for the Company's
new projects to be commissioned in 2022," said Xia Qinglong,
President of CNOOC Limited. "The continuous exploration and
development achievements at the Stabroek Block will be the powerful
driving forces to propel the Company's production growth, and will
also make a positive contribution to the sustainable development of
Guyana's economy and society".
The total recoverable resources of the Stabroek Block are
estimated to be over 10 billion barrels of oil equivalent. By 2027,
at least six FPSOs are expected to be producing more than 1 million
barrels of oil per day from the Block.
CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of
CNOOC Limited, holds 25% interest. Esso Exploration and Production
Guyana Limited is operator and holds 45% interest, and Hess Guyana Exploration
Ltd. holds 30% interest.
- End -
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:
Mr. Su Yuchi
Media & Public Relations
CNOOC Limited
Tel: +86 10 8452 5897
Fax: +86 10 8452 1441
E-mail: mr@cnooc.com.cn
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