CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces its wholly owned subsidiary, CNOOC Hong Kong Holding Limited, has entered into the Contract for Exploration and Production of Hydrocarbons (EPC) on the Zhylyoi Subsoil Area with Ministry of Energy of the Republic of Kazakhstan and Joint Stock Company National Company KazMunayGas (KMG).

The Zhylyoi Subsoil Area is located partially in the Atyrau region and partially in the Kazakhstan sector of the Caspian Sea, with an area of approximately 958 square kilometers.

According to the terms of the contract, the first stage of the exploration period shall be 9 years. CNOOC Hong Kong Holding Limited and KMG shall each hold 50% interests. The two parties shall establish a joint operating company and act as 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.

About KMG

National Company “KazMunayGas” JSC (KMG) is Kazakhstan's leading vertically-integrated oil and gas company. KMG is managing assets throughout the entire production cycle, ranging from exploration and production of hydrocarbons to transportation, refining and provision of specialized services. The company, founded in 2002, represents Kazakhstan in the country's petroleum sector.