Huizhou Oil Fields Resume Full Production

CNOOC reported that the Huizhou oil fields, which suspended production after being hit by Typhoon Koppu in September 2009, have restarted production in full scale.

Currently the operations of the Huizhou oil fields are running smoothly, with daily production of 45,000 barrels of oil and over 40 million cubic feet of natural gas.

The Huizhou oil fields halted production after part of their production facilities were damaged from the strike of typhoon Koppu in September 2009.

After the typhoon, the Company worked closely with its partners on the recovery plan for its oil fields in a timely manner. Thanks to the efforts, the Huizhou 21-1 gas field restarted its production shortly after being hit, while other fields such as Huizhou 26-1 resumed production early this year.

Mr. Yang Hua, President of the Company commented, "The Huizhou oil fields are one of our important assets in the Eastern South China Sea. The rapid recovery of these oil fields will provide strong support for achieving the Company's production target in 2010. Meanwhile, the success is an evidence of the outstanding capability of the company together with its partners to overcome difficulties and challenges."

The Huizhou oil fields are located in the Pearl River Mouth Basin and about 120 miles southeast of Hong Kong. The water depth of the fields averages 115 meters. The oil fields consist of 8 platforms, including Huizhou 26-1, Huizhou 19-2 and so on.

The Huizhou oil fields are operated by CACT Operators Group, which comprises CNOOC Ltd, Eni and Chevron.

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