CNOOC Limited announced that the Buzzard Phase II development, offshore UK North Sea has safely commenced production.

Buzzard Phase II is located approximately 100 kilometers northeast of Aberdeen, United Kingdom with average water depth of approximately 96 meters. While fully utilizing the existing Buzzard facility, the project has also built a set of underwater production systems. 2 production wells and 2 water injection wells have been brought on stream. Buzzard Phase II is expected to reach its peak production of approximately 12,000 barrels of oil equivalent per day in 2022, increasing Buzzard’s production to 80,000 BOEPD in total.

Mr. Xia Qinglong, President of CNOOC Limited said, “We are very pleased with the commencement of production at Buzzard Phase II. Constant development of the field will strongly promote the growth of the Company's overseas production in the future.”

CNOOC Petroleum Europe Limited, a wholly owned subsidiary of CNOOC Limited, is the operator of Buzzard and has 43.21% interest. The remaining interests are held by Suncor Energy (29.89%), Harbour Energy (21.73%) and ONE-Dyas (5.16%).

About CNOOC

CNOOC Limited ( SEHK: 00883, TSX: CNU), incorporated in the Hong Kong Special Administration Region (“Hong Kong”) in August 1999, was listed on the New York Stock Exchange (“NYSE”) (code: CEO) and The Stock Exchange of Hong Kong Limited (code: 00883) on 27 and 28 February 2001, respectively. The Company was admitted as a constituent stock of the Hang Seng Index in July 2001. The Company was listed on the Toronto Stock Exchange (code: CNU) on 18 September 2013.