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 September 11, 2003
CNOOC Limited
(Translation of registrant's name into English)
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65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
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(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
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(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
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
FOR IMMEDIATE RELEASE
CNOOC LIMITED TO EXPLORE UPSTREAM INVESTMENT IN GORGON
AND LNG SALES IN CHINA
(Hong Kong, September 10, 2003) - CNOOC Limited (the "Company", NYSE: CEO,
SEHK: 883) announced today that it has signed a letter agreement with the
participants in the Gorgon Joint Venture to commence discussions regarding a
potential upstream investment in the Gorgon project by CNOOC Limited. In
addition, CNOOC Limited has agreed to explore marketing opportunities for
natural gas from Gorgon into China. This agreement builds on the Memorandum of
Understanding entered into between CNOOC Limited and Chevron Australia Pty Ltd
in August 2001.
Mr. Wei Liucheng, Chairman and CEO of CNOOC Limited, stated that "LNG will
play an increasingly important role in meeting China's growing energy demand.
CNOOC has already developed a competitive advantage in China's LNG and natural
gas markets. A potential partnership with Gorgon will further enhance our
substantial position in this market and it will create a win-win outcome for
China and Australia."
The Gorgon participants consist of ChevronTexaco (4/7th interest and
operator), Shell (2/7th) and ExxonMobil (1/7th). The Gorgon development,
located off the north-west coast of Australia, has certified proved reserves
of approximately 11 trillion cubic feet (Tcf).
End
Notes to Editors:
CNOOC LIMITED - BACKGROUND
Incorporated in Hong Kong in August 1999, CNOOC Limited (SEHK: 883; NYSE: CEO)
is the dominant producer of crude oil and natural gas offshore China. CNOOC
Limited is also one of the largest independent crude oil and gas exploration
and production companies in the world. As of December 31, 2002, its net proved
reserves were 2.0 billion barrels-of-oil equivalents and its net production
averaged 352,780 BOE per day for the first half of 2003.
CNOOC Limited 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
slightly over 1,000 employees. The Company has become the largest offshore
producer in Indonesia after the acquisition of Indonesian assets.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
CNOOC Limited, incorporated in Hong Kong, is a 70.6% held subsidiary of China
National Offshore Oil Corporation ("CNOOC"). CNOOC Limited is the sole vehicle
through which CNOOC carries out oil and gas exploration, development,
production and selling activities offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research, and
services functions for the China offshore petroleum industry as well as other
mid- or downstream petroleum projects.
*** *** *** This press release contains statements that are not historical
facts, including statements about beliefs and expectations of the directors of
CNOOC Ltd. (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 1441
E-mail: xiaozw@cnooc.com.cn
Ms Anne Lui/Ms. Maggie Chan/Ms. Carol Chan
Ketchum Newscan Public Relations
Tel: 852-3141-8016/ 852-3141-8063/3141-8091
Fax: 852-2510-8199
E-mail: anne.lui@knprhk.com
carol.chan@knprhk.com
maggie.chan@knprhk.com
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
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Name: Cao Yunshi
Title: Company Secretary
Dated: September 11, 2003