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BZ 28-2S, located in the south of Bohai Bay with a water depth of 21 meters, is the largest field among all the oil projects expected to come on stream this year offshore China.

BZ 28-2S, together with BZ29-4, BZ28-2SN and BZ34-1N, is subject to joint development to maximize the commercial value. These oil fields, adjacent to each other, are collectively named as BZ28-2S oil fields, of which BZ28-2S is the first to start production.

The production is expected to ramp up an average 25,000 barrels of oil per day by 2011.

The main development facilities include one central platform, 49 wells and one FPSO. By sharing facilities, BZ28-2S and other fields will be developed in a more effective way.

According to the Company's 2009 plan, there will be five new projects coming on stream in Bohai Bay. The early start-up of BZ28-2S will serve to accelerate the development of the other four projects.

   BZ28-2S is an independent field of CNOOC Ltd, which was discovered in 2006.    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 2007 Annual Report on Form 20-F filed on June 26, 2008.

   For further enquiries, please contact:     Mr. Xiao Zongwei    Joint Company Secretary and    General Manager of Investor Relations Department    CNOOC Limited    Tel:   +86-10-8452-1646    Fax:   +86-10-8452-1441    Email: xiaozw@cnooc.com.cn     Ms. Sharon Fung    Ketchum Newscan Public Relations Ltd    Tel:   +852-3141-8082    Fax:   +852-2510-8199    Email: Sharon.fung@knprhk.com  

CNOOC Limited

CONTACT: Mr. Xiao Zongwei, Joint Company Secretary and General Managerof Investor Relations Department of CNOOC Limited, +86-10-8452-1646, fax,+86-10-8452-1441, xiaozw@cnooc.com.cn; Ms. Sharon Fung of Ketchum NewscanPublic Relations Ltd, +852-3141-8082, fax, +852-2510-8199,Sharon.fung@knprhk.com for CNOOC Limited

Web site: http://www.cnoocltd.com/http://www.prnasia.com/xprn/sa/200701301659.jpg

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