CNOOC Says Luda 10-1 Comprehensive Adjustment Project Commences Production

CNOOC Says Luda 10-1 Comprehensive Adjustment Project Commences Production

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) today announced that the Luda 10-1 comprehensive adjustment project has commenced production.

The Luda 10-1 oilfield is located in Liaodong Bay of Bohai with an average water depth of approximately 30 meters. In addition to fully utilize the existing facilities of Luda 10-1, this adjustment project has also built one wellhead platform. There are currently 13 producing wells producing approximately 3,300 barrels of crude oil per day.

The adjustment project is expected to reach its ODP designed peak production of approximately 6,000 barrels of crude oil per day in 2016.

The Luda 10-1 is an independent oilfield in which the Company holds 100% interest and acts as the operator.

Source: CNOOC Limited

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