HONG KONG, December 24, 2025 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883 (HKD counter) and 80883 (RMB counter), SSE: 600938) today announces that the Company has discovered a major Qinhuangdao 29-6 oil field in the shallow Neogene formations of the Bohai Sea, adding over one hundred million tonnes of oil equivalent in place.
The Qinhuangdao 29-6 oil field is located in the central Bohai Sea. The main oil-bearing area is the Neogene Minghuazhen Formation, characterized by shallow burial depth. The oil property consists of medium-heavy crude. The discovery well was drilled and completed to a depth of 1,688 meters, which encountered a total of 66.7 meters of oil zones and was tested to produce approximately 2,560 barrels of crude oil per day. Through continuous exploration, the on-site proven volume of Qinhuangdao 29-6 oil field has exceeded 100 million tons of oil equivalent.
Mr. Xu Changgui, Chief Geologist of the Company, said: “CNOOC Limited made an important discovery through in-depth research on hydrocarbon migration and accumulation patterns in shallow Neogene slope areas, coupled with technological innovation. This realization challenges the conventional understanding that slope areas simply serve as pathways for hydrocarbons rather than sites of substantial accumulation.
Qinhuangdao 29-6 oil field is the second hundred million ton class lithological oil field discovered in the mature exploration area of Shijiutuo uplift, further highlighting the value of fine exploration and consolidating the resource base to increase the Company’s reserves and production.
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Notes to editors:
Further information about the Company is available at https://www.cnoocltd.com.
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This press release contains forward-looking information, including statements regarding probable future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words “expect,” “anticipate,” “continue,” “estimate,” “goal,” “ongoing,” “may,” “will,” “project,” “should,” “believe,” “plan,” “intend” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyzes made by the Company as of this date in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate in the circumstances. However, it is uncertain whether actual results and developments will meet the Company’s current expectations and forecasts. Actual results, performance and financial condition may differ materially from the Company’s expectations, including, without limitation, those associated with macropolitical and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and gas industry, climate change and environmental policies, the Company’s pricing forecasts, mergers, acquisitions and divestitures activities, HSSE and insurance policies and changes in laws and regulations anti-corruption, anti-fraud, anti-money laundering and corporate governance.
Accordingly, all forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot guarantee that any anticipated results or developments will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or its operations.
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For any additional requests, please contact:
Ms. Cui Liu
Media and public relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Mr. Cheng Yao
Ever Bloom (HK) Communications Consultants Group Limited
Tel：+852 5540 0725
Fax：+852 2111 1103
E-mail: cnooc.hk.list@everbloom.com.cn
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SOURCE CNOOC Limited
