On February 6, CNOOC Limited announced that the Stampede Field, located in the deepwater Gulf of Mexico, has commenced production.

The Stampede Field is located in the Gulf of Mexico, approximately 185 kilometers south of Fourchon, Louisiana, U.S.A. It is positioned in approximately 1,066 meters of water, with a reservoir depth of 9,100 meters.

The facility is designed for a gross topsides processing capacity of approximately 80,000 barrels of oil per day, 40 million standard cubic feet of natural gas per day, and 100,000 barrels of water injection capacity per day. Under the current development scope, production facilities will consist of six subsea production wells and four water injection wells tied back to a Tension Leg Platform (TLP). Three production wells are currently completed, and production is expected to ramp up through 2018.

Nexen Petroleum Offshore U.S.A. Inc., a wholly owned affiliate of CNOOC Limited, has a 25 percent working interest in Stampede Field. Hess Corporation, Union Oil Company of California, a subsidiary of Chevron Corporation and Statoil Gulf of Mexico LLC, each have a 25 percent working interest while Hess is the operator.

About CNOOC

China National Offshore Oil Corporation ("CNOOC"), the largest offshore oil and gas producer in China, is a mega government owned company operating directly under the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China.

About Nexen

Nexen is an upstream oil and gas company responsibly developing energy resources in the UK North Sea, offshore West Africa, the United States and Western Canada. A wholly-owned subsidiary of CNOOC Limited, Nexen has three principal businesses: conventional oil and gas, oil sands and shale gas / oil.