CNOOC LIMITED
For Immediate Release
Qikou 18-1 Adjustment Project Starts Production
(Hong Kong, December 18, 2013) - CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) announced today that Qikou 18-1 adjustment project has recently commenced production.
Qikou 18-1 oil field is located in the west part of Bohai with an average water depth of 10 meters. In addition to fully utilize the existing producing facilities, this adjustment project has also built one plug-in processing facility and two production platforms. The commencement of this project will further improve the production and overall processing capability of the field and make the development of this field more effectively. The adjustment project is expected to hit its peak production in 2014.
Qikou 18-1 is an independent oil field in which the Company holds 100% interest 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 "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