HONG KONG, Sept. 15 /Xinhua-PRNewswire-FirstCall/ -- CNOOC Limited (the "Company" or "CNOOC Ltd."; NYSE: CEO; HKEx: 0883) announced today that Platform B of Phase II of Peng Lai (PL) 19-3 has come on stream successfully ahead of schedule.
(Logo: http://www.xprn.com/xprn/sa/200701301659.jpg )
The development facilities in Phase II of PL 19-3 include: five wellhead platforms, a central processing facility and a world-class floating production storage offloading facility with a designed processing capacity of 190,000 barrels of oil per day. Platforms A and C of PL19-3 Phase II, have been put into production, while the other two, D and E, will commence production in succession.
Mr. Liu Jian, Executive Vice President of the Company commented, "We are pleased with the advanced startup of platform B, which again highlights the closeness and the effectiveness of cooperation between CNOOC Ltd. and ConocoPhillips. Phase II of PL 19-3 oil field is one of the key projects the Company focus in 2008. I believe the upcoming startup of its platforms will inject new energy in boosting the Company's production."
PL19-3 oil field was jointly developed by CNOOC Ltd. and ConocoPhillips China Inc. (COPC). CNOOC Ltd. holds 51 percent interest in PL 19-3 and the Operator, COPC, holds the remaining 49 percent interest.
PL19-3 oil field, located in Block 11/05 in Bohai Bay, is currently China's largest offshore oil field.
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 "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 developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance and financial condition to differ materially from our expectations. For a description of these and other risks and uncertainties, please see the documents we file from time to time with the United States Securities and Exchange Commission, including our 2007 Annual Report on Form 20-F filed on June 26, 2008.
For further enquiries, please contact:
Mr. Xiao Zongwei
General Manager of Investor Relations Department
CNOOC Limited
Tel: +86-10-8452-1646
Fax: +86-10-8452-1441
E-mail: xiaozw@cnooc.com.cn
Ms. Sharon Fung
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8082
Fax: +852-2510-8199
E-mail: Sharon.fung@knprhk.com
SOURCE CNOOC Limited
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