UNITED
STATES
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
the
month of January 2008
Commission
File Number 1-14966
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CNOOC
Limited
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(Translation
of registrant’s name into English)
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65th
Floor
Bank
of China Tower
One
Garden Road
Central,
Hong Kong
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(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
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Form
20-F X Form 40-F
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Indicate
by check mark whether by furnishing the information contained in this Form,
the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes
___ No X
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If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not applicable
Signature
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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CNOOC
Limited
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By:
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/s/
Kang Xin
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Name:
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Kang
Xin
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Title:
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Company
Secretary
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Dated:
January 30, 2008
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Announcement
dated January 29, 2008, entitled “2008 Business
Strategy”.
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99.2
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Press
release dated January 29, 2008, entitled “Rapid Production Growth &
New Projects To Be 2008 Highlights For CNOOC Ltd.”
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Exhibit
99.1
(Incorporated
in Hong Kong with limited liability under the Companies
Ordinance)
(Stock
Code: 883)
2008
Business Strategy
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In
line with its policy of keeping the market informed of its activities,
the
Company announces a summary of its business strategy and development
plan
for the year 2008.
This
announcement includes “forward-looking statements” within the meaning of
the United States Private Securities Litigation Reform Act of 1995,
including statements regarding expected future events, business
prospectus
or financial results. The words “believe,” “intend,” “expect,”
“anticipate,” “project,” “estimate,” “plan,” “predict” and similar
expressions are intended to identify such forward-looking statements.
These statements are based on assumptions and analyses made by
us that we
believe are reasonable under the circumstances. However, whether
actual
results and developments will meet our expectations and predictions
depend
on a number of risks and uncertainties which could cause our actual
results, performance and financial condition to differ materially
from our
expectations. For a description of these and other risks and
uncertainties, please see the documents we file from time to time
with the
United States Securities and Exchange Commission, including our
2006
Annual Report on Form 20-F filed on June 29,
2007.
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In
line
with its policy of keeping the market informed of its activities, CNOOC Limited
(the “Company”) announces a summary of its business strategy and development
plan for the year 2008.
The
total
targeted net production of the Company in 2008 is 195-199 million barrels
of oil
equivalent (BOE) (assuming with WTI at US$70.0/barrel). The Company’s net
production for 2007 is estimated to be 169-171 million BOE (with WTI at
US$72.2/barrel).
During
the
year, ten new projects are expected to come on stream, including major projects
in offshore China such as platforms B, D, E of Penglai 19-3 phase Ⅱ, Wenchang
oilfields and Xijiang 23-1.
In
2008,
the Company will further enhance its exploration activities. The Company’s
exploration program will continue to focus in offshore China, where more
drilling activities and seismic data collection will be conducted during
the
year. In the meantime, the Company and its PSC partners will organize
exploration campaigns aiming at the deepwater blocks. The Company expects
to
achieve a reserve replacement ratio (RRR) of over 100% in 2008.
In
2008,
the Company’s total capital expenditure is expected to increase to US$5.24
billion, representing an increase of approximately 43.7% year on year. Due
to
the intensive exploration and development activities, the Company’s exploration
capital expenditure is anticipated to reach US$1.04 billion while capital
expenditure on development activities is expected to increase to US$4.15
billion. The Company expects that these capital expenditures will provide
strong
support to its growth in 2008 and in the next few years.
1
As
at the
date of this announcement, the board of directors comprises the
following:
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Executive
Directors
Fu
Chengyu (Chairman)
Zhou
Shouwei
Wu
Guangqi
Yang
Hua
Non-executive
Directors
Luo
Han
Cao
Xinghe
Wu
Zhenfang
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Independent
Non-executive Directors
Edgar
W. K. Cheng
Chiu
Sung Hong
Evert
Henkes
Lawrence
J. Lau
Tse
Hau Yin, Aloysius
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By
Order of the Board
CNOOC
Limited
Kang
Xin
Company
Secretary
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Hong
Kong,
29 January 2008
This
announcement includes “forward-looking statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995, including
statements regarding expected future events, business prospectus or financial
results. The words “believe,” “intend,” “expect,” “anticipate,” “project,”
“estimate,” “plan,” “predict” and similar expressions are intended to identify
such forward-looking statements. These statements are based on assumptions
and
analyses made by us that we believe are reasonable under the circumstances.
However, whether actual results and developments will meet our expectations
and
predictions depend on a number of risks and uncertainties which could cause
our
actual results, performance and financial condition to differ materially
from
our expectations. For a description of these and other risks and uncertainties,
please see the documents we file from time to time with the United States
Securities and Exchange Commission, including our 2006 Annual Report on Form
20-F filed on June 29, 2007.
2
Exhibit
99.2
中國海洋石油有限公司
CNOOC
LIMITED
FOR
IMMEDIATE RELEASE
Rapid
Production Growth & New Projects
To
Be 2008 Highlights For CNOOC Ltd.
(Hong
Kong,
January 29, 2008) - CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”,
SEHK “883”) today announced its
business strategy and
development plan for year 2008.
The
targeted net
production of CNOOC Ltd. in 2008 is 195-199 million barrels of oil equivalent
(BOE) (with WTI at US$70.0/barrel), compared with the estimated net production
of 169-171 million BOE (with WTI at US$72.2/barrel) for 2007.
During
the year, ten
new projects are expected to come on stream, including major offshore China
projects such as platform B, D, E of Penglai 19-3 phase II, Wenchang oilfields
and Xijiang 23-1.
In
2008, carrying on
the exploration successes in 2007, the Company will further enhance its
exploration activities. The Company’s exploration program will continue to focus
on offshore China, where more drilling activities and seismic data collection
work will be conducted
during the year. In the meantime, the Company and its PSC partners will organize
exploration campaigns aiming at the deepwater blocks. The Company expects
to
achieve a reserve replacement ratio (RRR) of over 100% in 2008.
In
2008, the
Company’s total capital expenditure is expected to increase to US$5.24 billion,
representing an increase of 43.7% year on year. Due to the intensive exploration
and development activities, the Company’s exploration capital expenditure is
anticipated to reach US$1.04 billion while capital expenditure on development
activities is expected to increase to US$4.15 billion. The Company expects
that
these capital expenditures will provide strong support to its reserves and production growth in
2008 and in the next few years.
“We
will take advantage of the
high oil
price environment
and speed
up our operations.
We will also maintain the
prudent financial discipline
in the face of industry cost
escalations, in
order to continue
a sustainable and profitable
growth,” Mr.
Yang Hua, Executive Vice President and CFO
of the Company
commented.
Page 1
/ 2
Mr.
Fu Chengyu, Chairman and Chief
Executive Officer of the Company said,” For
CNOOC Ltd. 2008 is a new
exciting
year
with rapid growth in production.
I am confident that with new projects
and active exploration and
development programs,
the
quality and quantity of
our assets will be further
optimized,
bringing
better return for the
shareholders.”
-
End -
Notes
to
Editors:
More
information
about the Company is available at http://www.cnoocltd.com.
***
*** ***
***
More
information
about the Company is available at http://www.cnoocltd.com.
***
*** ***
***
This
press release
includes “forward-looking statements” within the meaning of the United States
Private Securities Litigation Reform Act of 1995, including statements regarding
expected future events, business prospectus or financial results. The
words “believe,” “intend,” “expect,” “anticipate,” “project,” “estimate,”
“plan,” “predict” and similar expressions are intended to identify such
forward-looking statements. These statements are based on assumptions
and analyses made by us that we believe are reasonable under the
circumstances. However, whether actual results and developments will
meet our expectations and predictions depend on a number of risks and
uncertainties which could cause our actual results, performance and financial
condition to differ materially from our expectations. For a
description of these and other risks and uncertainties, please see the documents
we file from time to time with the United States Securities and Exchange
Commission, including our 2006 Annual Report on Form 20-F filed on June 29,
2007.
***
*** ***
***
For
further
enquiries, please contact:
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Mr.
Xiao Zongwei
General
Manager of Investor Relations Department
CNOOC
Limited
Tel:
+86-10-8452-1646
Fax:
+86-10-8452-1441
E-mail:
xiaozw@cnooc.com.cn
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Ms.
Carol Wong
Account
Manager
Ketchum
Hong Kong
Tel:
+852-3141-8098
Fax:
+852-2510-8199
E-mail:
carol.wong@knprhk.com
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