CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that the first green design oilfield in offshore China – Wushi 23-5 Oilfields Development Project has commenced production.

The project is located in the Beibu Gulf of the South China Sea, with an average water depth of approximately 28 meters. The main production facilities include 2 new wellhead platforms, and the renovated Wushi terminal. 43 development wells are planned to be brought on-stream, including 28 oil wells and 15 water-injection wells. The project is expected to achieve a peak production of approximately 18,100 barrels of oil equivalent per day in 2026, and the oil property is light crude.

In developing the first full-scale green design oilfield in offshore China, the Company pursued efficient and low-carbon development throughout the whole process of design, construction and production. It is the first oilfield in the South China Sea supplied with power from shore. The project will realize full-process recovery and utilization of the associated gas through integrated natural gas treatment. The commissioning of the project will further promote the green and low-carbon development of CNOOC Limited.

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