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CNOOC Limited Announces Two New Exploration Discoveries

Source: www.gulfoilandgas.com 8/20/2012, Location: Asia

CNOOC Limited announced that the Company made two new exploration discoveries in Luda 6-2 and Lufeng 15-1.

Luda 6-2 is located in the Liaodong Bay in Bohai with an average water depth of about 31 meters. The Company has successfully drilled Luda 6-2-4 and Luda 6-2-5 this year and encountered 40 and 147.6 meter thick of oil pay zones respectively. The average daily production was tested to be around 850 barrels.

In addition, Lufeng 15-1 is located in the Pearl River Mouth Basin with an average water depth of 283 meters. Lufeng 15-1-2 drilled in 2012, encountered 26.8 meter thick of oil pay zones and was tested with a daily production of around 800 barrels.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, I am very delighted that the Company made the new discovery in the new formation of Luda 6-2 structure in offshore China. Moreover, the successful drilling of Lufeng 15-1strongly promoted the oil and gas exploration activities in the area of this structure as well as opened up a new chapter of the independent exploration in the Pearl River Mouth Basin.

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