ConocoPhillips, CNOOC estimate 1,500 barrels of oil spilled during two June incidents in China's Bohai Bay

Rachel Carter

Rachel Carter

Jul 15, 2011 – CNOOC

HONG KONG , July 15, 2011 (press release) – CNOOC Limited (the "Company", NYSE: CEO, SEHK: 0883) announced, according to the latest statement by ConocoPhillips China Inc ("COPC"), the Operator of Penglai 19-3 field, the current estimate of the aggregate amount of fluid spilled from the two incidents is approximately 1,500 barrels (240 cubic meters) of oil and oil-based drilling fluids.

According to COPC, it is working with independent experts to validate the total spill quantity.

As the non-operator, the Company will continue to urge and assist COPC to complete the clean-up work as quickly as possible, and to reduce the impact of the oil spill incidents on marine environment according to the requirement of the State Oceanic Administration of People's Republic of China.

Penglai19-3 field is an oil field under Production Sharing Contract ("PSC") with COPC. COPC is the Operator and responsible for the management of daily operations. CNOOC Limited holds 51% of participating interests under the PSC.

More information about the Company is available at http://www.cnoocltd.com.

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