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 February 2010
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/
Jiang Yongzhi
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Name:
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Jiang
Yongzhi
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Title:
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Joint
Company Secretary
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Dated:
February 2, 2010
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EXHIBIT
INDEX
| Exhibit No. |
Description
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| 99.1 |
Announcement dated
February 2, 2010, entitled “2010 Business Strategy”.
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| 99.2 |
Press release dated
February 2, 2010, entitled “CNOOC Ltd. Welcomes 2010 with Higher
Production Growth and Robust CAPEX
Investment”.
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Exhibit
99.1
Hong
Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited
take no responsibility for the contents of this document, make no representation
as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this document.
(Incorporated
in Hong Kong with limited liability under the Companies Ordinance)
(Stock
Code: 883)
2010
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 2010.
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 the Company
that it believes are reasonable under the circumstances. However, whether
actual results and developments will meet the expectations and predictions
of the Company depend on a number of risks and uncertainties which could
cause the actual results, performance and financial condition to differ
materially from the Company’s expectations. For a description of these and
other risks and uncertainties, please see the documents the Company files
from time to time with the United States Securities and Exchange
Commission, including the 2008 Annual Report on Form 20-F filed on 8 May
2009.
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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 2010.
The total
targeted net production of the Company in 2010 is 275 million to 290 million
barrels of oil equivalent (BOE) (assuming with WTI at US$75.0/barrel). The
Company’s net production for 2009 is estimated to be 226 million to 228 million
BOE (with WTI at US$62.0/barrel).
During
the year, nine new projects are expected to come on stream, all of which are
located in offshore China, including major projects such as Jinzhou 25-1 and
Bozhong 19-4. These new projects, together with projects that came on stream in
2009, are expected to strongly support the Company’s production growth in 2010.
In the meantime, a mild decline rate on certain producing fields, achieved with
the effective measures on enhanced oil recovery, is also expected to be an
important driver for the production growth in 2010.
In 2010,
the Company’s exploration will focus on oil exploration in core areas, natural
gas exploration, and deep water exploration, with intensive exploration program
including 98 exploration wells, 21,000 kilometers 2D seismic and 11,800 square
kilometers 3D seismic. The Company aims to achieve a reserve replacement ratio
(RRR) of over 100% in 2010.
In 2010,
in order to support strong production growth and intensive exploration program,
the Company’s total capital expenditure is expected to reach US$7.93 billion,
representing an increase of approximately 29.5% over the estimated capital
expenditure of 2009. During the year, the Company’s capital expenditures for
exploration, development and production are expected to reach US$1.47 billion,
US$4.81 billion, and US$1.50 billion, respectively. The Company expects that
these capital expenditures will strongly support its production and reserves
growth in the future.
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By
Order of the Board
CNOOC
Limited
Jiang
Yongzhi
Joint Company
Secretary
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Hong
Kong, 2 February 2010
As at the
date of this announcement, the board of directors comprises the
following:
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Executive
Directors
Fu
Chengyu (Chairman)
Yang
Hua
Wu
Guangqi
Non-executive
Directors
Zhou
Shouwei
Cao
Xinghe
Wu
Zhenfang
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Independent
Non-executive Directors
Edgar
W. K. Cheng
Chiu
Sung Hong
Lawrence
J. Lau
Tse
Hau Yin, Aloysius
Wang
Tao
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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 the Company that it believes are reasonable under the
circumstances. However, whether actual results and developments will meet the
expectations and predictions of the Company depend on a number of risks and
uncertainties which could cause the actual results, performance and financial
condition to differ materially from the Company’s expectations. For a
description of these and other risks and uncertainties, please see the documents
the Company files from time to time with the United States Securities and
Exchange Commission, including the 2008 Annual Report on Form 20-F filed on 8
May 2009.
Exhibit
99.2
CNOOC LIMITED
For
Immediate Release
CNOOC
Ltd. Welcomes 2010 with Higher Production Growth and Robust CAPEX
Investment
(Hong Kong, Feb 2,
2010) - CNOOC Limited (“the Company" or “CNOOC Ltd,” NYSE: CEO, SEHK: 883) today
announced its 2010 business strategy and development plan.
The total targeted
net production of the Company in 2010 is 275-290 million barrels of oil
equivalent (BOE) (with WTI at US$75.0/barrel). The Company’s net production for
2009 is estimated to be 226-228 million BOE (with WTI at
US$62.0/barrel).
During the year,
nine new projects are expected to come on stream, including major projects such
as JinZhou 25-1 and BoZhong 19-4. These new projects are all located in offshore
China and are expected to strongly support the Company’s production growth in
2010. In the meantime, a mild decline rate on certain producing oilfields,
achieved with the effective measures on enhanced oil recovery, is also expected
to be an important driver for the production growth in 2010.
In order to
maintain a sustainable growth, the Company will further enhance its exploration
efforts in 2010. The Company’s exploration activities will focus on: exploration
of oil in core areas, natural gas exploration, and deep water exploration, with
intensive exploration program including 98 exploration wells, 21,000 kilometers
2D seismic and11,800 square kilometers 3D seismic. The Company aims to achieve a
reserve replacement ratio (RRR) of over 100% in 2010.
In 2010,
concentrating on production growth and intensive exploration program, the
Company will budget a total capital expenditure of US$7.93 billion, representing
an increase of 29.5% over the estimated capital expenditure of 2009. During the
year, the Company’s capital expenditures for exploration, development and
production are expected to reach US$1.47 billion, US$4.81 billion, and US$1.50
billion, respectively.
“2010 will be a
splendid year for the Company, especially for our production growth. While the
operating cost for the energy sector keeps climbing up, we will continue to
implement our low cost strategy to make a balance between achieving higher
production growth and maintaining competitive cost advantage.” Mr. Yang Hua,
President & CFO of the Company commented.
Mr. Fu Chengyu,
Chairman and Chief Executive Officer of the Company said, “In 2010, we will
stick to our established strategies and actively execute our development plan,
to reward our shareholders with outstanding business performance for their
confidence and support for the Company.”
–
End
–
Notes
to Editors:
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 2008 Annual Report on Form 20-F filed on May
8, 2009.
*** *** ***
***
For further
enquiries, please contact:
Mr. Jiang
Yongzhi
Joint Company
Secretary and General Manager of Investor Relations Department
CNOOC
Limited
Tel:
+86-10-8452-1731
Fax:
+86-10-8452-1441
E-mail: Jiangyzh2@cnooc.com.cn
Ms. Sharon
Fung
Ketchum Newscan
Public Relations Ltd
Tel: +852-3141-8082
Fax:
+852-2510-8199
E-mail:
sharon.fung@knprhk.com