CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that it has achieved a high yield well in Beibu Gulf, which produces daily over 1,000 cubic meters of oil equivalent.

Wushi 16-5 structure is located in Wushi Sag, Beibu Gulf, with an average water depth of approximately 25 meters. The appraisal well WS16-5-4 was drilled and completed at a depth of 4,185 meters, encountering a total of 65 meters oil pay zones. The well was tested to produce over 1,000 cubic meters of oil equivalent per day, the first well of such productivity in Wushi Sag. The discovery is expected to become a medium-sized oilfield. By far, the total proved oil in-place of Wushi oilfields has exceeded 100 million cubic meters.

Mr. Xu Changgui, Chief Geologist of the Company, said, “CNOOC Limited has been pushing forward the rolling exploration in the surrounding area of Wushi oilfields for years with leading technologies. The successful well proves the promising exploration potential in the mature area of Wushi Sag, which will guide our rolling exploration activities in offshore China.”

About CNOOC

CNOOC Limited (SEHK: 00883, SSE: 600938) is a listed company on the Shanghai Stock Exchange and the Hong Kong Stock Exchange with stock codes of 600938 and 00883, respectively.
The Company is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. The Company mainly engages in exploration, development, production and sale of crude oil and natural gas.