CNOOC Commences Production at Liuhua 19-5 Gas Field

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CNOOC Limited (the Company), a Chinese offshore oil and gas exploration and production company, reported Tuesday that Liuhua 19-5 gas field off China has recently commenced production.

Liuhua 19-5 is located in the Pearl River Mouth Basin off the South China Sea with an average water depth of about 606 feet (185 meters). This project was designed to share the existing producing facility of Panyu 30-1 gas field, and two new producing wells were drilled. Liuhua 19-5 is expected to hit its peak production of 29 million cubic feet per day in year 2014.

Liuhua 19-5 is an independent oil field in which the Company holds 100 percent interest and acts as the Operator.

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