SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------
FORM 6-K
------------
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For March 4, 2004
CNOOC Limited
(Translation of registrant's name into English)
---------------------------------------------------
65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
---------------------------------------------------
(Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F)
Form 20-F X Form 40-F
--------- ----------
(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
--------- ----------
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
PRESS RELEASE
CNOOC Announces Completion of WZ 12-1N
(Hong Kong, March 3, 2004) - CNOOC Limited (the "Company", NYSE: CEO,
SEHK: 883) announced today that its new project, WZ 12-1N, has come on stream
and is producing more than 7,500 BOE per day currently.
Wei Zhou ("WZ") 12-1N is located in the Beibu Gulf of the Western South
China Sea, about 2 kilometers north of the existing WZ 12-1 and 31 kilometers
from the Wei Zhou onshore processing terminal. The field shares production
facilities with WZ 12-1, which helps save costs and improve profitability.
It is expected that WZ-12-1N will reach its peak production volume of
14,400 boepd in 2005.
Mr. Zhou Shouwei, President of the Company, commented, "We have a busy
development schedule this year and are happy to see the start-up of WZ 12-1N.
We will continue to drive the development efforts diligently."
CNOOC limited is the operator and has a 100% interest in the field.
End
Notes to Editors:
CNOOC LIMITED - BACKGROUND
Incorporated in Hong Kong in August 1999, CNOOC Limited (SEHK: 883; NYSE: CEO)
is the dominant producer of crude oil and natural gas offshore China. CNOOC
Limited is also one of the largest independent crude oil and gas exploration
and production companies in the world.
As of December 31, 2002, its net proved reserves were 2.0 billion
barrels-of-oil equivalents and its net production averaged 353,102 BOE
(unaudited) per day for the first nine months of 2003.
CNOOC Limited is currently engaged in exploration, development and production
in 4 major areas offshore China, which covers Bohai Bay, Western South China
Sea, Eastern South China Sea and East China Sea. The Company is also one of
the largest offshore crude producers in Indonesia.
The Company has about 2,047 employees.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
CNOOC Limited, incorporated in Hong Kong, is a 70.6% held subsidiary of China
National Offshore Oil Corporation ("CNOOC"). CNOOC Limited is the sole vehicle
through which CNOOC carries out oil and gas exploration, development,
production and selling activities offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research, and
services functions for the China offshore petroleum industry as well as other
mid- or downstream petroleum projects.
*** *** ***
This press release contains statements that are not historical facts,
including statements about beliefs and
expectations of the directors of CNOOC Limited (the Company). These
forward-looking statements are based on current plans, estimates and
projections, and therefore you should not place undue reliance on them.
Forward-looking statements speak only as of the date they are made, and the
directors of the Company undertake no obligation to update publicly any of
them in light of new information or future events. Forward-looking statements
involve inherent risks and uncertainties. You are cautioned that a number of
important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Such factors include, but are not
limited to, changes in PRC economic, political and social conditions as well
as government policies.
*** *** ***
For further inquiries, please contact:
--------------------------------------------------------------------------------
Mr. Xiao Zongwei Ms Anne Lui/Ms. Maggie Chan/Ms. Carol Chan
CNOOC Limited Ketchum Newscan Public Relations
Tel: +86 10 8452 1646 Tel: 852-3141-8016/852-3141-8063/852-3141-8091
Fax: +86 10 8452 1441 Fax: 852-2510-8199
E-mail: xiaozw@cnooc.com.cn E-mail: anne.lui@knprhk.com
-------------------
carol.chan@knprhk.com
---------------------
maggie.chan@knprhk.com
----------------------
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be issued on its behalf
by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Cao Yunshi
------------------------
Name: Cao Yunshi
Title: Company Secretary
Dated: March 4, 2004