CNOOC Limited Announces the First LNG of Tangguh Project

HONG KONG, July 6 CNOOC-Tangguh-Project
HONG KONG, July 6 /PRNewswire-Asia/ -- CNOOC Limited (the "Company" or "CNOOC Ltd.", NYSE: CEO; SEHK: 0883) announced today that Tangguh LNG project, which the Company holds about 13.9% interest, has shipped its first commercial cargo, representing the successful commencement of this world-class LNG project.
(Logo: http://www.prnasia.com/xprn/sa/200701301659.jpg )
Tangguh LNG is Indonesia's third largest LNG center. It comprises the development of six gas fields within the three PSC areas: Berau, Muturi and Wiriagar in Papua Barat.
Production facilities of Tangguh LNG phase I include two platforms and one LNG plant.
Mr. Yang Hua, President of the Company said: "The successful startup of Tangguh project is a remarkable achievement for a project of this scale. We are glad to see that the project has started to contribute to the company' s business line."
Tangguh project is operated by BP Indonesia with a 37.16% interest. Other partners are MI Berau B.V. (16.3%), Nippon Oil Exploration (Berau) Ltd. (12.23%), KG Berau/KG Wiriagar (10%), LNG Japan Corporation (7.35%) and Talisman (3.06%).
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com .
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "believe", "intend", "expect", "anticipate", "project", "estimate", "plan", "predict" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by us that we believe are reasonable under the circumstances. However, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance and financial condition to differ materially from our expectations. For a description of these and other risks and uncertainties, please see the documents we file from time to time with the United States Securities and Exchange Commission, including our 2008 Annual Report on Form 20-F filed on May 8, 2009.

For further enquiries, please contact:

 Mr. Xiao Zongwei
 Joint Company Secretary
 and General Manager of Investor Relations Department
 CNOOC Limited
 Tel:   +86-10-8452-1646
 Fax:   +86-10-8452-1441
 Email: xiaozw@cnooc.com.cn

 Ms. Sharon Fung
 Ketchum Newscan Public Relations Ltd
 Tel:   +852-3141-8082
 Fax:   +852-2510-8199
 Email: Sharon.fung@knprhk.com

SOURCE CNOOC Limited