CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Mero2 Project has commenced production safely.

Mero, Brazil's third largest oilfield, is located in the Santos Basin pre-salt southeastern offshore Brazil. The development plan includes 4 production units, namely, Mero1, Mero2, Mero3 and Mero4. Mero2 Project is the second project commissioned in the field following Mero1 Project. The project is located in a water depth of between 1,800 and 2,100 meters, about 180 kilometers away from Rio de Janeiro. It will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 16 development wells are planned to be commissioned, including 8 production wells and 8 injectors. The production capacity of the project is 180,000 barrels of crude oil per day.

The FPSO used in Mero2 Project was constructed in China in June 2023 and arrived in Brazil in September. Its designed storage capacity is approximately 1.4 million barrels, making it one of the largest FPSO in the world.

CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC Limited, holds 9.65% interest. Petrobras is the operator and has 38.6% interest, TotalEnergies holds 19.3% interest, Shell Brasil holds 19.3% interest, CNPC holds 9.65% interest, and Pré-Sal Petróleo S.A –PPSA holds 3.5% as the Federal Union representative in non-contracted areas.

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.