SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For November 21, 2005
CNOOC Limited
(Translation of registrant's name into English)
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65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
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(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
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(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
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
Company Press Release
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Commercial Production Started From LD 5-2 in Bohai Bay
(Hong Kong, November 21, 2005) - CNOOC Limited (the "Company" or "CNOOC Ltd.";
NYSE "CEO", SEHK "883") is pleased to announce today that Luda (LD) 5-2, a new
field located in Bohai Bay, has started commercial production. The field is
producing at a volume of more than 2,200 barrels of oil per day from four
wells.
LD 5-2, with a water depth of approximately 30 meters, is located in Liaodong
Bay of Bohai Bay. It is adjacent to the producing field Suizhong 36-1.
The peak gross production capacity is designed at 9,600 barrels of oil per day
with 22 producing wells on line.
LD fields, which currently consist of three fields, LD 4-2, LD 10-1 and LD
5-2, have come on stream successfully. Thanks to the joint development and
sharing with Suizhong 36-1 of its producing facilities, the fields will
deliver better economic returns.
Mr. Liu Jian, Executive Vice President of the Company commented, "CNOOC
Limited discovered and developed the LD fields independently. It takes only
three years to bring them on line. This is another piece of evidence of the
Company's capability to optimize the economic margin via quick development and
sharing of existing facilities."
The Company holds 100% interest of the LD fields and acts as the operator.
End
Notes to Editors:
CNOOC LIMITED - BACKGROUND
CNOOC Limited (the "Company", together with its subsidiaries, the "Group") -
Incorporated in Hong Kong in August 1999, CNOOC Limited was listed on the New
York Stock Exchange ("NYSE") (code: CEO) and The Stock Exchange of Hong Kong
Limited ("HKSE") (code:
0883) on 27 and 28 February 2001, respectively. The Company was admitted as a
constituent stock of the Hang Seng Index in July 2001.
The Group is China's largest producer of offshore crude oil and natural gas
and one of the largest independent oil and gas exploration and production
companies in the world. The Group primarily engages in offshore oil and
natural gas exploration, development, production and sales.
The Group has four major oil production areas offshore China which are Bohai
Bay, Western South China Sea, Eastern South China Sea and East China Sea. It
is the largest offshore oil producer in Indonesia. The Group also has certain
upstream assets in regions such as Australia.
As at 31 December 2004, the Group owned net proved reserves of approximately
2.2 billion barrels-of-oil equivalent and its annual daily average net
production was 382,513 barrels-of-oil equivalent per day.
The Group has 2,524 employees.
CNOOC LIMITED - Relationship with its parent company, CNOOC
CNOOC Limited, incorporated in Hong Kong, is a 70.64% 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 People's Republic of China's offshore petroleum
industry as well as other mid- or down-stream 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 the PRC economic, political and social conditions as well as
government policies.
*** *** ***
For further enquiries, please contact:
Mr. Xiao Zongwei
General Manager of Investor Relations
CNOOC Limited
Tel: +86-10-8452-1646
Fax: +86-10-8452-1441
E-mail: xiaozw@cnooc.com.cn
Ms. Sharon Fung
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8082
Fax: +852-2510-8199
E-mail: Sharon.Fung@knprhk.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report on Form 6-K to be
signed on its behalf by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Cao Yunshi
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Name: Cao Yunshi
Title: Company Secretary
Dated: November 21, 2005