CNOOC Limited Announces Production Start of Bozhong 19-4 Oilfield Comprehensive Adjustment Project

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HONG KONG, September 24, 2021 / PRNewswire / – CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that the Bozhong 19-4 Complete Oilfield Adjustment Project has commenced production.

The Bozhong 19-4 Comprehensive Oilfield Adjustment Project is located south of the Bohai Sea, with an average water depth of about 21 meters. In addition to making full use of the existing processing facilities at the Bozhong 25-1 oilfield, the project constructed a new eight-foot central equipment platform. A total of 25 development wells are planned, including 18 production wells, 7 water injection wells. The project is expected to peak at around 11,000 barrels of crude oil per day in 2022.

CNOOC Limited owns 100% stake in Bozhong 19-4 Oilfield Comprehensive Adjustment Project and acts as 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 contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, a business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “in progress”, “may”, “will”, “plan”, “should”, “believe”, ” plan, “” intentions “and similar expressions are intended to identify such forward-looking statements.

These statements are based on assumptions and analyzes 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 deems appropriate in the light of circumstances. However, the question of whether actual results and developments will meet the Company’s expectations and forecasts depends on a number of risks and uncertainties which could cause actual results, performance and financial position to differ materially. expectations of the Company, including, but not limited to, the Company and its controlling shareholder listed in the United States for sanctioning companies with suspected ties to the Chinese military, those associated with the fluctuations prices of crude oil and natural gas, macro-political and economic factors, changes in the tax and tax regimes of the host countries in which we operate, the highly competitive nature of the oil and gas industry, liability environmental and compliance requirements, the Company’s price forecasts, exploration and development activities, activities mergers, acquisitions and divestments, HSSE and insurance policies and changes in the fight against corruption, the fight against fraud, the fight against money laundering and laws on corporate governance. 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 last fiscal year. Accordingly, all forward-looking statements contained in this press release are qualified by these cautionary statements. The Company cannot guarantee that the anticipated results or developments will materialize or, even if they materialize substantially, that they will have the expected effect on the Company, its business or its operations.

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For more information, please contact:

M / s. Jing liu
Manager, Media and Public Relations
CNOOC Limited
Phone. : + 86-10-8452-3404
Fax: + 86-10-8452-1441
E-mail: [email protected]

Rabbit Lee
Porda Havas International Financial Communication Group
Phone. : +852 3150 6707
Fax: +852 3150 6728
E-mail: [email protected]

SOURCE CNOOC Limited


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