CNOOC Submits Application for Establishment of Marine Environmental and Ecological Protection Foundation

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Dec 29, 2011, 07:08 ET

HONG KONG, Dec. 29, 2011 /PRNewswire-Asia/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK:0883) announced that its parent company, China National Offshore Oil Corporation("CNOOC"), has officially submitted a registration application to Ministry of Civil Affairs of the People's Republic of China for establishment of "CNOOC Marine Environmental and Ecological Protection Public Welfare Foundation" ("The Foundation"). The Foundation was launched by CNOOC and contributed by the CNOOC Limited with RMB500 million as initial capital. The Board of Directors has approved the contribution plan for the Foundation.

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CNOOC's Foundation will focus primarily on marine environmental and ecological protection as well as related scientific research and technology advancement and other charitable public welfare projects. Upon the approval on the registration, the Foundation will prioritize the work on marine environmental protection and comprehensive treatment.

Mr. Li, Fanrong, the Company's Chief Executive Officer commented, "as a company engaged in oil and gas exploration, development and production mainly in offshore China, we have always emphasized on marine environment and ecological protection and been proactively performing our social responsibilities. The oil spill incident has reminded us that safety and environmental protection risk always exists. The entire society should care more about the efforts made on the marine environmental protection and ecological restoration, and we would like to make our own dedication."

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 of1995, 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 analysis made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes reasonable under the circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of risks and uncertainties which could cause the actual results, performance and financial conditions to differ materially from the Company's expectations, including those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company has filed from time to time with the United States Securities and Exchange Commission, including 2010 Annual Report on Form 20-F filed on April 29, 2011.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the actual results or developments anticipated will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or operations.

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: [email protected]

Ms. Ding Jianchun
Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-2973
Fax: +86-10-8452-1441
E-mail: [email protected]

Ms. Angela Hui
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8091
Fax: +852-2510-8199
E-mail: [email protected]

SOURCE CNOOC Limited