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Zhu Weilin News

18 Jun 2012

CNOOC Signs PSC with Primeline

CNOOC Limited (NYSE: CEO, SEHK: 00883) announced that its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Primeline Energy China Limited (PECL) and Primeline Petroleum Corporation (PPC) (jointly as "Primeline") for Block 33/07 in the East China Sea. Block 33/07 is located about 390 kilometers of Shanghai in the East China Sea. It covers a total area of 5877 square kilometers, with water depth of 90 meters. According to the terms of the contract, Primeline will conduct 3D seismic data survey and drill exploration wells in Block 33/07 during the exploration period, in which all expenditures incurred will be borne by Primeline.

11 Apr 2012

CNOOC and Eni Collaborate in South China Sea

Hong Kong - CNOOC Limited announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production-sharing contract (PSC) with Eni China B.V. (Eni) for the deepwater Block 30/27 in South China Sea. Block 30/27, located 400 kilometers off the coast of Hong Kong with a total area of 5,130 square kilometers, is one of the blocks CNOOC offered for foreign cooperation in 2011. According to the terms of the contract, Eni will conduct a 3D seismic survey and drill one exploration well in Block 30/27. All expenditures incurred during the exploration period will be borne by Eni. CNOOC Limited has the right to participate in up to a 51 percent working interest in any commercial discoveries in the block.

03 Jan 2011

CNOOC: A Deepwater Gas Finding in Qiongdongnan Basin

China's CNOOC Limited (NYSE: CEO, SEHK: 0883) announced a deepwater gas discovery on Block 64/11 offshore China after the Lingshui 22-1-1 exploration well drilled by its partner, BG Group (BG) , encountered gas-bearing sands.The exploration well is located in Qiongdongnan Basin in the South China Sea, approximately 130 kilometres offshore and in a water depth of 1,338 metres. BG will conduct further analysis of the well results to evaluate the hydrocarbon potential in the Block. Mr. Zhu Weilin, Executive Vice President of the Company commented, “This is the first deepwater well in Qiongdongnan Basin. We are excited about the well results. The company signed the production sharing contract (PSC) with BG for deepwater block 64/11 on 7th June 2006.