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CNOOC Limited Announces the Kick-off of QHD33-1

Source: www.gulfoilandgas.com 6/1/2009, Location: Asia

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CNOOC Limited announced the successful start-up of its independent oil field Qinhuangdao (QHD) 33-1. Currently, it is producing approximately 2000 barrels of oil per day via two wells.

QHD33-1 is located in the central to western Bohai Bay with a water depth of about 21 meters.

The development and production of QHD33-1 mainly rely on the facilities of the adjacent producing field QHD 32-6. The oil produced will be transferred to QHD32-6 via subsea pipeline for processing, storage and transportation.

Mr. Yuan Guangyu, Executive Vice President of the Company said: “The successful startup of QHD33-1 underlines our technical and management capability in developing small sized marginal oil fields.”

CNOOC Ltd. holds 100% interest of QHD 33-1 and acts as the operator.

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