HONG KONG, Oct. 17, 2013 /CNW/ - CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883) announced that, Wenchang 19-1 North and Weizhou 12-8
West oil fields have recently commenced production.
Wenchang 19-1 North oil field is located in the western Pearl River
Mouth Basin with an average water depth of about 120-130 meters. This
oil field has 3 producing wells and is expected to reach its peak
production within the year.
Wenchang 19-1 North is an independent oil field in which the Company
holds 100% interest and acts as the Operator.
Weizhou 12-8 West oil field is located in Beibu Gulf Basin in the
southwest part of the South China Sea with an average water depth of
about 34 meters. This oil field has 5 producing wells and is expected
to reach its peak production within the year.
The Company holds 51% interest and acts as the Operator of Weizhou 12-8
West oil field. The partners of this oil field are Roc Oil (China)
Company, Horizon Oil (Beibu) Ltd and Oil Australia Pty Ltd.
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 analysis made by the
Company in light of its experience and perception of historical trends,
current conditions and expected future developments, as well as other
factors that the Company believes reasonable under the circumstances.
However, whether actual results and developments will meet the
Company's expectations and predictions depends on a number of risks and
uncertainties which could cause the actual results, performance and
financial conditions to differ materially from the Company's
expectations, including 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 Company can complete on schedule
pursuant to its 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 has filed from time to time with the United
States Securities and Exchange Commission, including 2012 Annual Report
on Form 20-F filed on April 24, 2013.
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
realized or, even if substantially realized, that they will have the
expected effect on the Company, its business or operations.
SOURCE: CNOOC Limited
For further information:
Ms. Michelle Zhang
Deputy Manager, Media / Public Relations
Ms. Angela Hui
Ketchum Newscan Public Relations Ltd