HONG
KONG, May 31, 2023 /PRNewswire/ -- CNOOC
Limited ("the Company", SEHK: 00883, SSE: 600938) announces today
that Buzios5 Project has commenced production safely.
Buzios oilfield is located in the Santos Basin, southeast
offshore of Brazil, with a water
depth of 1,900 to 2,200 meters. It is the largest deep-water
pre-salt oilfield in the world, with a daily production of about
600,000 barrels at present. Buzios5 is the fifth phase of oilfield
development. It will be developed with an FPSO and subsea
production system. The project has already drilled 5 producing
wells and 5 injectors. These wells will produce up to 150,000
barrels of crude oil, 6 million cubic meters of natural gas and
inject 220,000 barrels of water per day.
The FPSO used in Buzios5 project was converted in China in July
2022 and arrived at the oilfield in February 2023. It is able to store 1.4 million
barrels of crude oil.
Mr. Xia Qinglong, president of the
Company, said "Buzios5 is the first project to commence
production after CNOOC Limited joins Buzios project, which will
inject new momentum into our overseas production growth. We adhere
to win-win cooperation with the host government and partners, to
jointly develop the world-class ultra-deepwater project, and to
contribute to the sustainable development of Brazil's oil and gas industry, economy and
society."
CNOOC Petroleum Brasil Ltda , a wholly-owned subsidiary of the
Company, holds a 7.34% interest in the Buzios Shared Reservoir,
while the operator Petrobras holds 88.99%, and CNODC Brasil
Petróleo e Gás Ltda holds 3.67%.
-End-
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
This press release includes forward looking information,
including statements regarding the likely future developments in
the business of the Company and its subsidiaries, such as expected
future events, business prospects 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 as of this date 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 currently believes are appropriate
under the circumstances. However, whether actual results and
developments will meet the current expectations and predictions of
the Company is uncertain. Actual results, performance and financial
condition may 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, 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.
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. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
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