CNOOC Limited (SEHK: 00883) announced that Weizhou12-8E oilfield development project has commenced production.

The Weizhou 12-8E oilfield development project is located in Beibu Gulf in the South China Sea, with average water depth of about 30 meters. In addition to fully utilizing the existing processing facilities of Weixinan oilfields. A total of 7 development wells are planned, including 6 oil production wells and 1 production water reinjection well. The project is expected to reach its average daily production of approximately 4,700 barrels of crude oil in 2022, with its peak production of approximately 10,000 barrels of crude oil per day.

The Company holds 51% interest of Weizhou 12-8E oilfield development project. The partners of this oilfield are Roc Oil (China) Company, Horizon Oil (Beibu) Limited and Oil Australia Pty Ltd.

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.