CNOOC Brings CFD 11-3/5 Field Onstream

CNOOC has achieved initial production from the Caofeidian (CFD) 11-3/5 fields in block 04/36 in Bohai Bay. Using an unmanned facility, the fields are producing at the peak capacity of 13,800 barrels of oil per day currently.

CFD11-3/5 fields are located in the western Bohai Bay in an average water depth of about 25 meters. To further enhance the economics of the fields, the development is combined with CFD 11-1 and CFD 11-2.

Mr. Liu Jian, Executive Vice President of the Company commented, "We are satisfied with the cost effective development of CFD 11-3/5. The successful completion of the fields is an excellent example of our cooperation with international partners."

The Company holds a 51% interest. Kerr-McGee is the operator with a 40% interest. Sino American Energy Corp., a subsidiary of Ultra Petroleum, is a partner with 9% interest.