[China] Jinzhou 25-1

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[China] Jinzhou 25-1

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CNOOC Limited Announces Jinzhou 25-1 Oilfield 6/11 Area Commences Production

(Hong Kong, September 28, 2020) - CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Jinzhou 25-1 oilfield 6/11 area has commenced production.

Jinzhou 25-1 oilfield 6/11 area is located in central Liaodong Bay in Bohai with average water depth of 22.5 meters. In addition to fully utilizing the existing facilities of Jinzhou 25-1 oilfield and Jinzhou 25-1S oilfield, the project has built one eight-legged wellhead platform. A total of 19 production wells and 10 water injection wells are planned. It is expected to reach the peak production of approximately 16,500 barrels of crude oil per day in 2023.

CNOOC Limited holds 100% interest of Jinzhou 25-1 oilfield 6/11 area.
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