FOR IMMEDIATE RELEASE
CNOOC Ltd’s Wenchang Fields Start Trial Production Successfully
(Hong Kong, July 2, 2008) - CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”, SEHK “0883”) today announces
that leading by Wen 19-1, WenChang (Wen) oil fields have successfully run into trial production stage. Currently, through 7
wells the fields can produce approximately 14,000 barrels of oil per day.
Wen oil fields, which is located in the Pearl River Mouth Basin in the Western South China Sea, consist of four oil fields,
namely 19-1, 15-1, 14-3 and 8-3. The development facilities contain five wellhead platforms, one FPSO and 26 producing
Wen 19-1 is the first among the oil fields to start production, and its peak daily production is expected to reach over 18,800
barrels. The other three fields will come on stream this year as well.
Mr. Liu Jian, Executive Vice President of the Company said, “Joint development model is adopted in Wen oil fields in order to
reduce the development cost as well as to exploit the oil reserves more efficiently. We anticipate the oil fields will produce
more efficiently and contribute to the production growth of the Company.”
CNOOC Ltd. holds 100% interest of the fields and acts as the operator.
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Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
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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 “believe,” “intend,” “expect,” “anticipate,” “project,” “estimate,” “plan,” “predict” and similar expressions are
intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by
us that we believe are reasonable under the circumstances. However, whether actual results and developm