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 March 30, 2004
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 Confirms BZ 34-1 Finding in Bohai Bay
(Hong Kong, March 30, 2004) -CNOOC Limited (the "Company" or "CNOOC Ltd.";
NYSE "CEO", SEHK "883") announced today that it has drilled successfully two
appraisal wells, BZ 34-1-5 and BZ 34-1-4, in Bohai Bay.
BZ 34-1-5, with a water depth of 21 meters, is an appraisal well drilled on BZ
34-1 discovery. On 7.14 mm choke, the appraisal well was tested to flow nearly
400 barrels of 31-33 API degree oil per day during drill stem test 1 ("DST").
The well also produced about 5.37 million cubic feet of gas per day on a 9.53
mm choke during drill stem test 2.
Another successful well BZ 34-1-4 on the same discovery encountered gas pay
zones of 16 meters and oil zones of 38 meters.
Mr. Zhang Guohua, Senior Vice President of the Company, commented, "It's a
good start for this year's Bohai Bay exploration program."
CNOOC Limited is the operator with a 100% interest of the discovery.
Ends
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, 2003, its net proved reserves were 2.1 billion
barrels-of-oil equivalents and its net production averaged 356,729 BOE per
day.
CNOOC Limited is currently engaged in exploration, development and
production in 4 major areas offshore China, which covers Bohai Bay, Western
South China Sea, Eastern South China Sea and East China Sea. The Company is
also one of the largest offshore crude producers in Indonesia.
The Company has about 2,447 employees.
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.
*** *** ***
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 PRC 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
-------------------
Ms Anne Lui/Ms. Charlotte Kong/Ms. Carol Chan
Ketchum Newscan Public Relations
Tel: 852-3141-8016/ 852-3141-8063/852-3141-8091
Fax: 852-2510-8199
E-mail: anne.lui@knprhk.com
-------------------
carol.chan@knprhk.com
---------------------
charlotte.kong@knprhk.com
-------------------------
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
-----------------------
Name: Cao Yunshi
Title: Company Secretary
Dated: March 30, 2004