Enping 23-1 oilfields commences production

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that the Enping 23-1 oilfields has commenced production.

The Enping 23-1 oilfields, located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 90 meters. In addition to fully utilizing the existing facilities of Enping 24-2 oilfield, the Overall Development Program (ODP) of Enping 23-1 project teamed up with Enping 23-2, Enping 23-7 and Enping 18-1 oilfields for regional joint development. The main production facilities of Enping 23-1, Enping 23-2 and Enping 23-7 oilfields include one platform and 13 producing wells. There are currently three wells producing approximately 5,600 barrels of crude oil per day. The project is expected to reach its ODP designed peak production of approximately 24,800 barrels of crude oil per day in 2018.

The Company holds 100% interest of the oilfields.