CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces today that the Bozhong 28-2 South Oilfield Second Adjustment Project has commenced production.

The project is located in southern Bohai Sea, with an average water depth of around 21 meters. The main production facilities include 1 central platform and 1 water-injection subsea pipeline. 21 development wells are planned to be commissioned, including 13 production wells and 8 water-injection wells. It is expected to achieve a peak production of approximately 7,600 barrels of crude oil per day in 2024.

CNOOC Limited holds 100% interest in the project and acts as the operator.