Enping 24-2 Oilfield in China Commences Production

CNOOC Limited through its Enping 24-2 oilfield has commenced production.

Enping 24-2 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 86~96 meters. The main production facilities include one drilling and production platform, one floating production storage and offloading unit (FPSO) and 17 producing wells. Currently there are 2 wells producing approximately 8,000 barrels of crude oil per day, and the project is expected to reach its peak production of approximately 40,000 barrels per day in 2017.

Enping 24-2 is an independent oilfield which the Company holds 100% interest and acts as the operator.