Kenli 10-4 oilfield commences production

Source: CNOOC Limited

There are currently 6 wells on production, producing a total of approximately 6,540 bbls of crude oil per day. The oilfield is expected to reach its ODP designed peak production of approximately 9,600 bbls of crude oil per day in 2016.

CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that the Kenli 10-4 oilfield has commenced production.

The Kenli 10-4 oilfield is located in the South of Bohai with an average water depth of approximately 15 meters. In addition to fully utilizing the existing facilities of Kenli 10-1 oilfield, the Kenli 10-4 oilfield also included the development of one wellhead platform. There are currently 6 wells on production, producing a total of approximately 6,540 barrels of crude oil per day. The oilfield is expected to reach its ODP designed peak production of approximately 9,600 barrels of crude oil per day in 2016.

The Kenli 10-4 is an independent oilfield in which the Company holds 100% interest and acts as the operator.

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