CNOOC updates on offshore oil project in South China Sea

Offshore staff

HONG KONGCNOOC Ltd. (TSX: CNU) reports that the Huizhou 25-8 Oilfield/Xijiang 24-3 Oilfield Xijiang 24-1 District Joint Development Project has begun production.

This project is in the Pearl River Mouth basin of the South China Sea with an average water depth of 100 m (328 ft). The main production facilities include two drilling and production platforms and 29 producing wells. Four wells are producing 6,300 b/d, and the project is expected to reach peak production of 33,000 b/d in 2016.

Operator CNOOC holds a 100% equity interest in the project.

11/24/2014

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