UNITED
STATES
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 the
month of April 2010
Commission
File Number 1-14966
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CNOOC
Limited
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(Translation
of registrant’s name into English)
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65th
Floor
Bank
of China Tower
One
Garden Road
Central,
Hong Kong
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(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
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Form
20-F X Form
40-F ___
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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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): Not
applicable
Signature
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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CNOOC
Limited
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By:
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/s/
Jiang Yongzhi
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Name:
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Jiang
Yongzhi
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Title:
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Joint
Company Secretary
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Dated:
April 28, 2010
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
release dated April 28, 2010, entitled “CNOOC Ltd. Achieved Production and
Revenue Growth in the First Quarter”.
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| 99.2 | Announcement dated April 28, 2010. |
EXHIBIT 99.1
For
Immediate Release
CNOOC
Ltd. Achieved Production and Revenue Growth in the First Quarter
(Hong Kong, April
28, 2010) - CNOOC Limited (the “Company" or “CNOOC Ltd.”, NYSE: CEO, SEHK:
00883) is pleased to announce its results for the first quarter of 2010. During
the period, the Company achieved a total net production of 67.3 million barrels
of oil equivalent (BOE), representing an increase of 31.9% year-on-year (YOY).
Total unaudited revenue surged 118.5% to RMB30.49 billion.
In the first
quarter of 2010, the Company produced 55.0 million barrels of crude oil and
liquids, an increase of 30.4% YOY, and 71.6 billion cubic feet of natural gas,
up 41.4% YOY. The production growth was mainly attributable to the production
from projects that came on stream in 2008 and 2009 and the outstanding
performance of existing oil and gas fields.
During the period,
the average realized oil and gas prices rose 81.4% and 13.9% YOY to US$75.37 per
barrel and US$4.43 per thousand cubic feet respectively. Benefiting from
increased production and sales volume and higher realized prices, the Company
recorded a total unaudited revenue of approximately RMB30.49 billion with a
significant increase of 118.5% YOY.
In the first
quarter of 2010, the Company and its partner made five new discoveries offshore
China, among which, Penglai 9-1 is a sizable discovery. Meanwhile, the Company
and its partner successfully drilled five appraisal wells.
On the development
side, all major projects are proceeding smoothly as scheduled. Bozhong 3-2,
Weizhou 11-1E and Caofeidian 18-1 commenced production during the
period.
In the first
quarter of 2010, CNOOC International Limited, a wholly-owned subsidiary of the
Company, entered into an agreement with Bridas Energy Holdings Ltd. to form a
50:50 joint venture in Bridas Corporation for a consideration of approximately
US$3.1 billion in cash. Completion of this transaction is expected to take place
in the first half of 2010 subject to, amongst others, necessary government and
regulatory approvals of PRC.
During the period,
the Company's capital expenditure fell 22.7% YOY to approximately RMB5.80
billion. As a result of major workload scheduled to be carried out in the second
quarter or later this year, the Company's development expenditure was
approximately RMB3.09 billion, representing a decrease of 45.0%
YOY.
Mr. Fu Chengyu,
Chairman and Chief Executive Officer of the Company commented,“ In the first
quarter, the Company achieved strong production and revenue growth as well as
encouraging exploration discoveries. I believe that such solid results will
provide strong support for achieving our 2010 target.”
–
End –
Notes
to Editors:
More
information about the Company is available at
http://www.cnoocltd.com.
This press release
includes “forward-looking statements” within the meaning of the United States
Private Securities Litigation Reform Act of 1995, including statements regarding
expected future events, business prospectus or financial results. The words
“believe”, “intend”, “expect”, “anticipate”, “project”, “estimate”, “plan”,
“predict” and similar expressions are intended to identify such forward-looking
statements. These statements are based on assumptions and analyses made by us
that we believe are reasonable under the circumstances. However, whether actual
results and developments will meet our expectations and predictions depend on a
number of risks and uncertainties which could cause our actual results,
performance and financial condition to differ materially from our expectations.
For a description of these and other risks and uncertainties, please see the
documents we file from time to time with the United States Securities and
Exchange Commission, including our 2009 Annual Report on Form 20-F filed on
April 23, 2010.
*** *** ***
***
For further
enquiries, please contact:
Mr. Jiang
Yongzhi
Joint Company
Secretary and General Manager of Investor Relations Department
CNOOC
Limited
Tel:
+86-10-8452-1731
Fax:
+86-10-8452-1441
E-mail:
jiangyzh2@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
EXHIBIT 99.2
Hong Kong Exchanges and Clearing Limited
and The Stock Exchange of Hong Kong Limited take no responsibility for the
contents of this document, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of this
document.
(Incorporated in
Hong Kong with limited liability under the Companies Ordinance)
(Stock
Code: 00883)
ANNOUNCEMENT
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The Board
hereby announces certain selected unaudited key operational statistics of
the Group for the first quarter of 2010 (ended 31 March 2010). The
comparative statistics for the first quarter of 2009 (ended 31 March 2009)
are also disclosed in this
announcement.
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The board of
directors of CNOOC Limited (the “Company”) (the “Board”) hereby announces
certain selected unaudited key operational statistics of the Company and its
subsidiaries (together the “Group”) for the first quarter of 2010 (ended 31
March 2010). The comparative statistics for the first quarter of 2009 (ended 31
March 2009) are also disclosed in this announcement.
The Company
achieved a total net production of 67.3 million barrels of oil equivalent (BOE)
for the first quarter of 2010, representing an increase of 31.9% from the same
period in 2009. The production growth was mainly attributable to the production
from projects that came on stream in 2008 and 2009 and the outperformance of
existing oil and gas fields.
For the first
quarter of 2010, the Company and its partner made five new discoveries offshore
China, among which, Penglai 9-1 is a sizable discovery and is expected to
facilitate the Company’s oil and gas exploration in the area. During the same
period, the Company and its partner successfully drilled five appraisal
wells.
On the development
side, Bozhong 3-2, Weizhou 11-1E and Caofeidian 18-1 in offshore China commenced
production in March 2010. Other major projects were progressing as
planned.
In the first
quarter of 2010, CNOOC International Limited, a wholly-owned subsidiary of the
Company, entered into an agreement with Bridas Energy Holdings Ltd. to form a
50:50 joint venture in Bridas Corporation for a cash consideration of
approximately US$3.1 billion. The transaction is expected to complete in the
first half of 2010, subject to obtaining all governmental and regulatory
approvals, permissions and consents required in the PRC and to the fulfillment
of other terms and conditions.
Benefiting from
increased oil and gas production and sales volume and higher realized prices,
the total unaudited revenue of the Company was approximately RMB30.49 billion
for the first quarter of 2010, representing a significant increase of 118.5%
year over year (YOY). For the first quarter
of 2010, the
Company’s average realized oil price increased 81.4% YOY to US$75.37 per barrel.
The Company’s average realized gas price was US$4.43 per thousand cubic feet,
representing an increase of 13.9% YOY.
For the first
quarter of 2010, the Company's capital expenditure reached approximately RMB5.80
billion, representing a decrease of 22.7% YOY. As a result of major workload
scheduled to be carried out in the second quarter or later this year, the
Company's development expenditure recorded approximately RMB3.09 billion,
representing a decrease of 45.0% YOY.
First
Quarter and Year-to-Date Production Summary (Unaudited)
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2010
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2009
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Crude
Oil & Liquids (mmbbls)
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Q1 |
YTD
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Q1 |
YTD
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Bohai
Bay
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30.33 | 30.33 | 20.52 | 20.52 | ||||||||||||
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Western South
China Sea
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7.64 | 7.64 | 6.26 | 6.26 | ||||||||||||
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Eastern South
China Sea
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9.79 | 9.79 | 12.55 | 12.55 | ||||||||||||
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East China
Sea
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0.01 | 0.01 | 0.01 | 0.01 | ||||||||||||
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Overseas
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7.24 | 7.24 | 2.83 | 2.83 | ||||||||||||
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Subtotal
(mmbbls)
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55.01 | 55.01 | 42.17 | 42.17 | ||||||||||||
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Natural
Gas (bcf)
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Bohai
Bay
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9.82 | 9.82 | 6.64 | 6.64 | ||||||||||||
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Western South
China Sea
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26.88 | 26.88 | 21.34 | 21.34 | ||||||||||||
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Eastern South
China Sea
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10.28 | 10.28 | 2.53 | 2.53 | ||||||||||||
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East China
Sea
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0.55 | 0.55 | 0.56 | 0.56 | ||||||||||||
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Overseas
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24.09 | 24.09 | 19.58 | 19.58 | ||||||||||||
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Subtotal
(bcf)
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71.62 | 71.62 | 50.65 | 50.65 | ||||||||||||
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Total
Production (mmboe)
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67.29 | 67.29 | 51.02 | 51.02 | ||||||||||||
First
Quarter and Year-to-Date Revenue and Capital Expenditure
(Unaudited)
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RMB
millions
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US$
millions
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2010
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2009
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2010
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2009
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| Q1 |
YTD
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Q1 |
YTD
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Q1 |
YTD
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Q1 |
YTD
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Sales
Revenue
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Crude oil and
liquids
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27,990.9 | 27,990.9 | 12,186.1 | 12,186.1 | 4,100.0 | 4,100.0 | 1,782.3 | 1,782.3 | ||||||||||||||||||||||||
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Natural
gas
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2,165.1 | 2,165.1 | 1,348.0 | 1,348.0 | 317.1 | 317.1 | 197.2 | 197.2 | ||||||||||||||||||||||||
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Marketing
revenue,
net
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44.2 | 44.2 | 157.8 | 157.8 | 6.5 | 6.5 | 23.1 | 23.1 | ||||||||||||||||||||||||
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Others
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293.1 | 293.1 | 261.3 | 261.3 | 42.9 | 42.9 | 38.2 | 38.2 | ||||||||||||||||||||||||
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Total
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30,493.3 | 30,493.3 | 13,953.2 | 13,953.2 | 4,466.5 | 4,466.5 | 2,040.8 | 2,040.8 | ||||||||||||||||||||||||
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Capital
Expenditures
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Exploration
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927.3 | 927.3 | 1,207.3 | 1,207.3 | 135.8 | 135.8 | 176.6 | 176.6 | ||||||||||||||||||||||||
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Development
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3,094.2 | 3,094.2 | 5,622.8 | 5,622.8 | 453.2 | 453.2 | 822.4 | 822.4 | ||||||||||||||||||||||||
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Production
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1,781.2 | 1,781.2 | 675.6 | 675.6 | 260.9 | 260.9 | 98.8 | 98.8 | ||||||||||||||||||||||||
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Total
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5,802.7 | 5,802.7 | 7,505.7 | 7,505.7 | 849.9 | 849.9 | 1,097.8 | 1,097.8 | ||||||||||||||||||||||||
For the purpose of
this announcement, unless otherwise indicated, an exchange rate of US$1 =
RMB6.8271 has been used for the first quarter of 2010, and an exchange rate of
US$1 = RMB6.8371 has been used for the first quarter of 2009, where applicable.
The usage of these exchange rates is for illustration only and does not
constitute a representation that any amount has been, could have been or may be
exchanged or converted at the above rates or at any other rate at
all.
This announcement
is published on the website of The Stock Exchange of Hong Kong Limited
(http://www.hkex.com.hk) and on the Company’s website
(http://www.cnoocltd.com).
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By Order of
the Board
CNOOC
Limited
Jiang
Yongzhi
Joint Company
Secretary
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Hong Kong, 28 April
2010
As at the date of
this announcement, the Board comprises:
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Executive
Directors
Fu Chengyu
(Chairman)
Yang
Hua
Wu
Guangqi
Non-executive
Directors
Zhou
Shouwei
Cao
Xinghe
Wu
Zhenfang
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Independent
Non-executive Directors
Edgar W. K.
Cheng
Chiu Sung
Hong
Lawrence J.
Lau
Tse Hau Yin,
Aloysius
Wang
Tao
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