Suizhong Field Comes On Stream

CNOOC Limited announced that the last of the three production platforms of Suizhong 36-1 (Phase II-2), Platform H, started initial production, marking the total completion of the development of entire SZ 36-1 field. The other two platforms of Suizhong 36-1 (Phase II-2) had been brought on stream in August and September of 2001, respectively. The phase II of Suizhong 36-1 development is expected to add about 60,000 barrels a day of production at its peak.

The successful start-up of all three production platforms increases the likelihood of reaching this year's production target by the Company and will contribute to production growth next year.

Suizhong 36-1 (Phase II) includes 6 production platforms and was developed in two parts. Platforms D, E and F was brought to production at the end of last year. The second part consists of platforms of C, G and H.

"The on schedule completion of the project demonstrates the Company's project management capability. It was a challenging project and 100% owned by the Company. My people did a good job," commented Mr. Zhou Shouwei, Executive Vice President of the Company. "The startup will support production growth target."