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 July 20, 2004
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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Oil Fields CFD 11-1/11-2 Came On Stream
(Hong Kong, July 20, 2004) - CNOOC Limited (together with its subsidiaries,
the "Company", NYSE: CEO, SEHK: 883) announced today that Caofeidian ("CFD")
11-1/11-2 have come on stream successfully ahead of schedule. It is expected
that gross production of these oil fields will reach 15,000 to 20,000 barrels
of oil per day within the next several months.
CFD 11-1/11-2 are located on block 04/36 in the western part of Bohai Bay and
have a water depth of 20 meters. The oil fields are operated by Kerr-McGee,
using the Hai Yang Shi You 112, a floating production, storage and offloading
facility (FPSO), as the main production platform. The FPSO can process up to
80,000 barrels of oil and 350,000 barrels of gross liquids a day. It can store
up to one million barrels of oil for offloading to shuttle tankers. The first
phase of the development of CFD 11-1/11-2 includes one 48-slot wellhead
gathering platform and one 24-slot wellhead platform.
The Company expects CFD 11-1/11-2 to reach their peak production by mid-2005,
producing 40,000 to 45,000 barrels of oil per day.
Mr. Zhou Shouwei, President of the Company commented, "Time and again, we and
our partners prove that we can continue to deliver results, no matter how
demanding the job may be. Let me congratulate our partners for a job well
done."
The Company owns a 51% interest in the oil fields. Kerr-McGee is the operator
with a 40% interest. Sino-American Energy Corp., a subsidiary of Ultra
Petroleum, owns the remaining 9% interest.
Ends
Notes to Editor
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, 2003, its net proved reserves were 2.1 billion
barrels-of-oil equivalents. Daily production for the quarter ended March 31,
2004 was 362,672 BOE (unaudited).
CNOOC Limited is currently engaged in exploration, development and production
in four major areas offshore China, which cover 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 2,447 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 its 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.
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For further enquiries, please contact:
Mr. Xiao Zongwei
CNOOC Limited
Tel : +86 10 8452 1646
Fax: +86 10 8452 1441
E-mail: xiaozw@cnooc.com.cn
Ms. Charlotte Kong/Ms. Joe Lee
Ketchum Newscan Public Relations Tel:
852-3141-8063/852-3141-8028
Fax: 852-2510-8199
E-mail: Charlotte.kong@knprhk.com
joy.lee@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: July 20, 2004