SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For October 8, 2003
CNOOC Limited
(Translation of registrant's name into English)
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65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
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(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
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(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
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
PRESS RELEASE
CNOOC Limited Gets New Production Through Oilfield PY 4-2/5-1
(Hong Kong, October 8, 2003) - CNOOC Limited (the "Company", NYSE: CEO; SEHK:
883) announced today that the Company and its partners have started commercial
production from two oilfields, PY 4-2/5-1, in the Eastern South China Sea. The
fields have a peak production capacity of 60,000 barrels of oil per day and
are expected to ramp up to that level during the third quarter of 2004.
Oilfields PY 4-2/5-1 are located in Block 15/34 of the Pearl River Mouth
Basin, approximately 200 kilometers south of Hong Kong with water depth of
about 100 meters. The fields currently include two platforms and a Floating
Production, Storage and Offloading vessel (FPSO).
Mr. Zhou Shouwei, President of the Company said, "I'm delighted to see the
successful start-up of these two fields on time. Our successful partnership
and development activities continue to add fuel to the Company's growth
engine."
The Company has a 51% working interests in the two fields. The two partners,
Devon Energy China, Ltd. (acts as the operator) and Burlington Resources China
Limited, share the remaining 49% working interests equally.
End
Notes to Editors:
CNOOC LIMITED - BACKGROUND
Incorporated in Hong Kong in August 1999, CNOOC Limited (SEHK: 883; NYSE: CEO)
is the dominant producer of crude oil and natural gas offshore China. CNOOC
Limited is also one of the largest independent crude oil and gas exploration
and production companies in the world. As of December 31, 2002, its net proved
reserves were 2.0 billion barrels-of-oil equivalents and its net production
averaged 352,780 BOE per day for the first half of 2003.
CNOOC Limited has interests in 45 crude oil and gas properties in four major
producing areas offshore China: Bohai Bay, Western South China Sea, Eastern
South China Sea and East China Sea. The Company is a major oil and gas company
in China with slightly over 2,047 employees. The Company has become the
largest offshore producer in Indonesia after the acquisition of Indonesian
assets.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
CNOOC Limited, incorporated in Hong Kong, is a 70.6% 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 China offshore petroleum industry as well as other
mid- or downstream petroleum projects.
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This press release contains statements that are not historical facts,
including statements about beliefs and expectations of the directors of 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, of the PRC's economic, political and social
conditions as well as government policies.
*** *** ***
For further enquiries, please contact:
Mr. Xiao Zongwei
CNOOC Limited
Tel: +86 10 8452 1646
Fax: +86 10 8452 1441
E-mail: xiaozw@cnooc.com.cn
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Ms Anne Lui/Ms. Maggie Chan/Ms. Carol Chan
Ketchum Newscan Public Relations
Tel: 852-3141-8016/ 852-3141-8063/3141-8091
Fax: 852-2510-8199
E-mail: anne.lui@knprhk.com
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carol.chan@knprhk.com
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maggie.chan@knprhk.com
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be issued on its behalf
by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Cao Yunshi
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Name: Cao Yunshi
Title: Company Secretary
Dated: October 8, 2003