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 October 10, 2001
CNOOC Limited
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(Translation of registrant's name into English)
65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
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(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
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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.)
CNOOC Joins the Planning of the Shandong Natural Gas Pipeline Network
(Beijing, October 10, 2001) - CNOOC Limited (SEHK: 883, NYSE: CEO) (the
"Company") announced today that China National Offshore Oil Corporation
("CNOOC"), its parent, has entered into an agreement with the Development and
Planning Commission of Shandong Province and Shandong International Trust
Investment Company to participate in the planning of the Shandong natural gas
pipeline network and LNG import.
Due to its rapid economic growth and severely unbalanced energy mix, Shandong
province has been hungry for clean energy like natural gas. To maintain the
sustainable development of its economy, society and environment, Shandong
province has been actively exploring the utilization of natural gas.
CNOOC has been developing the natural gas reserves in Bohai Bay and has been
planning to supply gas from the Bonan area to Yantai and Qingdao via Longkou
in Shandong province. In addition, as the leading coordinator of the first LNG
project in China, CNOOC has experience in LNG projects and knowledge of the
domestic market. Therefore, the Development and Planning Commission of
Shandong Province has decided to cooperate with CNOOC in the planning of the
Shandong natural gas pipeline network (from 2001 to 2015) and the
investigation of LNG import.
The Company has the option to take CNOOC's working interest in potential
investment projects that may be generated from this cooperative endeavor.
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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. The
Company is also one of the largest independent crude oil and gas exploration
and production companies in the world. As of December 31, 2000, its net proved
reserves were 1.8 billion barrels-of-oil equivalents and its net production
totaled 239,337 BOE per day.
The Company has interests in 45 crude oil and gas properties in four major
producing areas: Bohai Bay, Western South China Sea, Eastern South China Sea
and East China Sea. The Company is a major oil and gas company in China with
approximately 1,000 employees.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
The Company, incorporated in Hong Kong, is a 70.6% held subsidiary of China
National Offshore Oil Corporation ("CNOOC"). The Company is the sole vehicle
through which CNOOC carries out oil and gas exploration, development and
production activities offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research, and
other
services and functions for the PRC 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 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 of the PRC's economic, political and social
conditions as well as government policies.
*** *** ***
For further enquiries, please contact:
Mr. Xiao Zongwei
CNOOC Limited
CNOOC Plaza
No. 6, Dong Zhi Men Wai Xiao Jie
Beijing, 100027
People's Republic of China
Tel : +86 10 8452 1646
Fax: +86 10 8452 1648
E-mail: xiaozw@cnooc.com.cn
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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
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Name: Cao Yunshi
Title: Company Secretary
Dated: October 10, 2001