Hong Kong, July 1, 2024 HONG KONG, 15 Dec 2019 /PRNewswire/ — CNOOC Limited (the “Company”) (Stock Exchange of Hong Kong: 00883 (Hong Kong Dollars) and Renminbi: 600938) today announced that China’s first green-designed oilfield has been successfully completed. China – Wushi 23-5 Oil Field Development Project has started production.
The project is located in the Beibu Gulf of the South China Sea with an average water depth of approximately 28 metres. Key production facilities include two new wellhead platforms and the refurbished Wushi Terminal. 43 development wells are planned to be commissioned, including 28 oil wells and 15 water injection wells. The project is expected to achieve peak production of approximately 18,100 barrels of oil equivalent per day in 2026, and the oil type will be light crude oil.
In developing offshore’s first fully-fledged green-engineered oil field ChinaThe company pursued efficient and low-carbon development throughout the entire process of design, construction and production. It is the first oil field in the South China Sea to generate power from onshore, and the project to achieve full-process recovery and utilization of associated gas through integrated natural gas processing. The start-up of the project will further promote CNOOC Limited’s green and low-carbon development.
CNOOC Limited holds a 100% interest in the project and acts as operator.
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Notes to editors:
For more information about us, http://www.cnoocltd.com.
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This press release contains forward-looking information, including statements regarding possible future developments of the business of the Company and its subsidiaries, including expected future events, business prospects and financial performance. Words such as “anticipate,” “expect,” “continue,” “estimate,” “objective,” “ongoing,” “may,” “will,” “plan,” “should,” “believe,” “project,” “intend” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analysis made as of today in light of our experience, perception of historical trends, current conditions, expected future developments and other factors that we currently believe are appropriate under the circumstances. However, it is uncertain whether actual results and developments will meet our current expectations and projections. Actual results, performance and financial condition may differ materially from our expectations, including without limitation those related to macro-political and economic factors, fluctuations in crude oil and natural gas prices, intense competition in the oil and natural gas industry, climate change and environmental policies, our pricing forecasts, merger, acquisition and divestiture activities, HSSE and insurance policies, and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations.
All forward-looking statements contained in this press release are therefore qualified by these cautionary statements, and the Company can give no assurance that the anticipated results or developments will be realized or, even if substantially realized, will have the desired effects on the Company, its business or operations.
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For further inquiries, please contact us at the address below.
MS. Choi Yu
Media and Public Relations
CNOOC Limited
Phone: +86-10-8452-6641
Fax: +86-10-8452-1441
Email: [email protected]
Mr. Bunny Lee
Polda Havas International Financial Communications Group
Phone: +852 3150 6707
Fax: +852 3150 6728
Email: [email protected]
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SOURCE CNOOC Limited