CNOOC Brings WZ 12-1N Onstream

CNOOC Limited reports that its new project WZ 12-1N has come on stream and is producing more than 7,500 BOE per day currently.

Wei Zhou ("WZ") 12-1N is located in the Beibu Gulf of the Western South China Sea, about 2 kilometers north of the existing WZ 12-1 and 31 kilometers to the Wei Zhou onshore processing terminal. The field shares production facilities with WZ 12-1. It helps improve cost performance and enhance economics of the field.

It is expected that WZ-12-1N will reach a peak production of 14,400 boepd in 2005.

Mr. Zhou Shouwei, President of the Company commented, "We have a busy development schedule this year and are happy to see the start-up of WZ 12-1N. We will continue to drive the development effort diligently."

CNOOC limited is the operator with a 100% interest in the field.