CNOOC Limited begins production from BZ34-1

CNOOC Limited says that Bo Zhong (BZ) 34-1, an oilfield in Bohai Bay, has successfully come on stream ahead of schedule. More than 4,800 barrels of oil per day are produced from 7 wells currently.

Located in southern Bohai Bay, BZ 34-1 oil field is adjacent to BZ34-2/4. The development facilities of BZ 34-1 include one central platform and one wellhead platform.

According to the ODP plan, there are more than 20 producing wells in BZ34-1, other wells will come on stream in 2008. The peak daily production of the field is expected to reach 12000 barrels of oil.

Mr. Liu Jian, Executive Vice President of the Company commented, “Benefiting from the effective and well-managed construction activities together with the hard works of the operation team, BZ34-1 has started production two month earlier than planned. We’re pleased to witness several recent start-ups of new oil fields, which will bring more return to our invertors in a long run.”

BZ 34-1 is an independent oilfield of CNOOC Ltd..