HONG
KONG, Nov. 14, 2023 /PRNewswire/ -- CNOOC
Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB
Counter), SSE: 600938) announces that Payara Project has commenced
production safely.
Payara Project locates in the Stabroek Block offshore
Guyana and produces with 1 FPSO
and 41 subsea wellheads. The FPSO is the third production facility
in the Block following the two serving Liza Phase I and Liza Phase
II. It was constructed in China
and Singapore, and arrived in
Guyana in April 2023. It is moored in water depth of about
1,930 meters and will be able to store around 2 million barrels of
crude oil. Payara Project is expected to reach its peak
production of approximately 220,000 barrels of crude oil per day in
2024.
Mr. Zhou Xinhuai, CEO and President of the Company, said,
"The delivery of Payara Project was a milestone for the partnership
and production growth of the Stabroek Block. By 2024, the daily
production of the Block is expected to reach approximately 620,000
barrels of crude oil per day, which will further fuel the
high-quality development of the Company."
CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of
CNOOC Limited, holds 25% interest in the Stabroek Block. ExxonMobil
Guyana Limited is the operator and holds 45% interest, and Hess
Guyana Exploration Ltd. holds 30% interest.
— End —
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
*** *** *** ***
This press release includes forward looking information,
including statements regarding the likely future developments in
the business of the Company and its subsidiaries, such as expected
future events, business prospects or financial results. The words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify such
forward-looking statements. These statements are based on
assumptions and analyses made by the Company as of this date in
light of its experience and its perception of historical trends,
current conditions and expected future developments, as well as
other factors that the Company currently believes are appropriate
under the circumstances. However, whether actual results and
developments will meet the current expectations and predictions of
the Company is uncertain. Actual results, performance and financial
condition may differ materially from the Company's expectations,
including but not limited to those associated with macro-political
and economic factors, fluctuations in crude oil and natural gas
prices, the highly competitive nature of the oil and natural gas
industry, climate change and environmental policies, the Company's
price forecast, mergers, acquisitions and divestments activities,
HSSE and insurance policies and changes in anti-corruption,
anti-fraud, anti-money laundering and corporate
governance laws and regulations.
Consequently, all of the forward-looking statements made in this
press release are qualified by these cautionary statements. The
Company cannot assure that the results or developments anticipated
will be realised or, even if substantially realised, that they will
have the expected effect on the Company, its business or
operations.
*** *** *** ***
For further enquiries, please contact:
Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Mr. Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com
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SOURCE CNOOC Limited