CNOOC LIMITED ADDS OVER 100 BILLION CUBIC METERS OF PROVED GAS IN-PLACE

CNOOC Limited announces that Chinese governmental authorities have approved the proved gas in-place of Lingshui 36-1 gas field, which stands at over 100 billion cubic meters. It is the first large-size ultra-shallow gas field in ultra-deep water in the world, which opens up a new area of exploration in deep waters.

Lingshui 36-1 gas field is located in the southern portion of the Central Sag, Qiongdongnan Basin. The average water depth of the gas field is approximately 1,500 meters, and the burial depth is 210 meters, making it a typical ultra-deep-water ultra-shallow gas field. The field has been tested to produce over 10 million cubic meters per day of absolute open-flow natural gas.

The Company has been searching for oil and gas resources in the South China Sea for decades. Multiple large-size gas fields have been discovered in Yinggehai, Qiongdongnan and Pearl River Mouth basins, namely Dongfang 1-1, Liwan 3-1, Lingshui 17-2, Baodao 21-1 and now, Lingshui 36-1. By far, the total proved gas in-place in the region has exceeded one trillion cubic meters. The South China Sea trillion-cubic-meters gas region has thus become a reality.