CNOOC Limited offshore oil field adjustment starts production

Source:CNOOC Limited

CNOOC Limited offshore oil field adjustment starts production

CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883, TSX: CNU) announced today that Qikou 18-1 adjustment project has recently commenced production.

Qikou 18-1 oil field is located in the west part of Bohai with an average water depth of 10 meters. In addition to fully utilize the existing producing facilities, this adjustment project has also built one plug-in processing facility and two production platforms. The commencement of this project will further improve the production and overall processing capability of the field and make the development of this field more effectively. The adjustment project is expected to hit its peak production in 2014.

Qikou 18-1 is an independent oil field in which the Company holds 100% interest and acts as the Operator.

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