CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces that Wenchang 16-2 Oilfield Development Project has commenced production.

The project is located in the western Pearl River Mouth Basin, with an average water depth of approximately 150 meters. The development of the project mainly leverages the adjacent existing facilities of the Wenchang Oilfields, with addition of a new jacket platform integrating functions such as oil and gas production, offshore drilling and completion operations as well as personnel accommodation. A total of 15 development wells are planned to be commissioned.The project is expected to achieve a plateau production of approximately 11,200 barrels of oil equivalent per day in 2027. The oil property is light crude.

CNOOC Limited holds 100% interest in this project and is the operator.

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.