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 May 13, 2005
CNOOC Limited
(Translation of registrant's name into English)
--------------------------------------------------------
65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(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
--------- ----------
(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
--------- ----------
(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
---------------------
CNOOC Ltd. Starts Oil Production In LD 4-2 Ahead of Schedule
(Hong Kong, May 12, 2005) - CNOOC Limited (the "Company" or "CNOOC Ltd."; NYSE
"CEO", SEHK "883") announced today that Luda (LD) 4-2, a new field in Bohai
Bay, had come on stream ahead of schedule. The field is producing at a volume
of 5,600 barrels of oil per day from seven wells.
LD 4-2, together with LD10-1 and LD 5-2, is located in central Liaodong Bay of
Bohai Bay in about 100 feet of water depth. They are adjacent to the producing
field Suizhong 36-1. The development of LD 4-2 consists of a wellhead
platform, a subsea pipeline and two cables.
The peak gross production capacity is designed at 5,000 barrels of oil per day
in 2006.
Mr. Yang hua, CFO and Senior Vice President of the Company commented, "LD4-2's
development and operation plan has been optimized together with other LD
fields, making it more attractive commercially. This is the second successful
early startup this year, and more projects will be on stream later."
CNOOC Ltd is the operator and owns 100 percent interest in the project.
Ends
Notes to Editors:
CNOOC LIMITED - BACKGROUND
CNOOC Limited (the "Company", together with its subsidiaries, the "Group",
"the Company" or "CNOOC") - 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 Company mainly engages in offshore oil and natural
gas exploration, development, production and sales.
The Company 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 Company owned net proved reserves of approximately
2.2 billion
1
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
Director 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
2
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
-------------------------
Name: Cao Yunshi
Title: Company Secretary
Dated: May 13, 2005