SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________
FORM 6-K
____________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For October 17, 2001
CNOOC Limited
(Translation of registrant's name into English)
____________________________________________________
65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
____________________________________________________
(Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F)
Form 20-F X Form 40-F
------ ------
(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
------ ------
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
Company Press Release
---------------------
QHD 32-6 Development Successfully Completed
(Beijing, October 16, 2001) - CNOOC Limited (the "Company", NYSE: CEO, SEHK:
883) announced today that Qinhuangdao 32-6 ("QHD 32-6") oil field, which was
scheduled for startup in the fourth quarter of 2001, has been brought on
stream successfully.
QHD 32-6 is located in the central to northern part of Bohai Bay, 130 km from
the city of Tianjin. It holds a recoverable reserve of 103 million barrels net
to the Company. The development of QHD 32-6 includes 6 producing wellhead
platforms. The development planned for this year consists of wellhead platform
A and B, a single point moor and an FPSO.
QHD 32-6 is jointly owned by the Company (51%), Texaco (24.5%) and BP (24.5%).
The Company is the operator. The overall development is expected to be
completed in 2002. The designed peak capacity of the entire field is over
65,000 barrels per day.
"All development projects scheduled to complete this year have thus far all
been brought into production," said Mr. Zhou Shouwei, Executive Vice President
of the Company. "The successful completion of the development program for the
year has greatly removed uncertainties surrounding achieving this year's
production target and reaching production growth for next year."
************
Notes to Editors:
CNOOC LIMITED - BACKGROUND
Incorporated in Hong Kong in August 1999, the Company is the dominant producer
of crude oil and natural gas offshore China. The Company is also one of the
largest independent crude oil and gas exploration and production companies in
the world. As of December 31, 2000, its net proved reserves were 1.8 billion
barrels-of-oil equivalents and its net production totaled 239,337 BOE per day.
The Company has interests in 45 crude oil and gas properties in four major
producing areas: Bohai Bay, Western South China Sea, Eastern South China Sea
and East China Sea. The Company is a major oil and gas company in China with
approximately 1,000 employees.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
The Company is a 70.6% held subsidiary of China National Offshore Oil
Corporation ("CNOOC"). The Company is the sole vehicle through which CNOOC
carries out oil and gas exploration, development and production activities
offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research and
services functions for the PRC offshore petroleum industry as well as other
mid- or down-stream petroleum projects.
*** *** ***
This press release contains statements that are not historical facts,
including statements about beliefs and expectations of the directors of the
Company. These forward-looking statements are based on current plans,
estimates and projections, and therefore you should not place undue reliance
on them. Forward-looking statements speak only as of the date they are made,
and the directors of the Company undertake no obligation to update publicly
any of them in light of new information or future events. Forward-looking
statements involve inherent risks and uncertainties. You are cautioned that a
number of important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Such factors include,
but are not limited to, changes of the PRC's economic, political and social
conditions as well as government policies.
*** *** ***
For further enquiries, please contact:
Mr. Xiao Zongwei
CNOOC Limited
Tel : +86 10 8452 1646
Fax: +86 10 8452 1648
E-mail: xiaozw@cnooc.com.cn
-------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be issued on its
behalf by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Cao Yunshi
-----------------------------
Name: Cao Yunshi
Title: Company Secretary
Dated: October 17, 2001