CNOOC’s BZ25-1/BZ25-1South Oilfields in Full Production

Wednesday, June 09, 2010

CNOOC Limited announced that its BZ25-1/BZ25-1South oilfields, which suspended production due to facility damage caused by strong winds in November 2009, are back into production. Currently, the production capability of BZ25-1/ /BZ25-1South oilfields has recovered to its normal level. The fields can produce about 27,000 barrels of oil per day before the incident.

After the strong winds, in order to resume its production as early as possible, the company, together with its partner, worked out a recovery plan for BZ25-1/BZ25-1South oilfields and implemented it in a timely manner. BZ25-1/BZ25-1South oilfields, jointly developed by CNOOC Ltd. and Chevron, are located in the southeast part of Bohai Bay. CNOOC Ltd. holds 83.8% interest and acts as the operator, while Chevron holds the remaining 16.2% interest.

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