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 August 12, 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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CNOOC Announced Success of Appraisal Well PY 34-1-2
(Hong Kong, August 12, 2004) - CNOOC Limited (together with its subsidiaries,
the "Company", NYSE: CEO, SEHK: 883) today announced the success of Panyu (PY)
34-1-2, an appraisal well in the Eastern South China Sea.
PY 34-1-2, about 250 kilometers southeast of Hong Kong, is an appraisal well
drilled on PY 34-1 structure in Baiyun Sag. The well was drilled to a total
depth of 3600 meters in 200 meters of water. PY 34-1-2 was tested to produce
18.42 million cubic feet of gas per day on 12 mm choke during a drill stem test.
The PY 34-1 discovery is about 10 kilometers southwest of the PY 30-1 gas
discovery, which was made in late 2002.
The preliminary development plan of PY 30-1 and PY 34-1 calls for the
integration of smaller reserves in the area to capture further economic
benefits. The gas development is targeting the fast-growing Guangdong gas
market.
Mr. Zhang Guohua, Senior Vice President of the Company, commented, "PY 34-1 is a
nice addition to the significant gas discovery at PY 30-1. Developed together,
they are expected to enhance our returns."
The Company acts as the operator of and owns a 100 percent interest in the PY
34-1 discovery.
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 oil 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 70.64% 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.
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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
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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
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joy.lee@knprhk.com
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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 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: August 12, 2004