CNOOC Limited Announces Key Operational Statistics for the Third Quarter of 2019
The Company achieved a total net production of 124.8 million barrels of oil equivalent ("BOE") for the third quarter of 2019, representing an increase of 9.7% year over year ("YoY"). Production from offshore
During the period, the Company made three new discoveries and drilled 19 successful appraisal wells. In offshore
On development and production, three out of six new projects planned for this year have commenced production. Bozhong 34-9 oil field, Caofeidian 11-1/11-6 comprehensive adjustment project and Wenchang 13-2 comprehensive adjustment project are undergoing offshore commissioning.
The unaudited oil and gas sales revenue of the Company reached approximately
For the third quarter of 2019, the Company's capital expenditure increased 27.9% YoY to approximately
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com .
*** *** *** ***
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company's expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, the exploration and development activities, mergers, acquisitions and divestments activities, environmental responsibility and compliance requirements, foreign operations and cyber system attacks. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.
*** *** *** ***
For further enquiries, please contact:
Manager, Media & Public Relations
Ms. Ada Leung
Hill+Knowlton Strategies Asia