Form 6-K CNOOC LTD For: Apr 22
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 April 2021
Commission File Number 1-14966
CNOOC Limited
(Translation of registrant’s name into English)
65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
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.
Yes ¨ No x
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.
| CNOOC Limited | ||
| By: | /s/ Xiaonan Wu | |
| Name: | Xiaonan Wu | |
| Title: | Joint Company Secretary |
Date: April 22, 2021
EXHIBIT INDEX
| Exhibit No. | Description |
| 99.1 | Announcement |
| 99.2 | Press release entitled “CNOOC Limited Announces Key Operational Statistics for Q1 2021” |
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 announcement, 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 announcement.
(Incorporated in Hong Kong with limited liability under the Companies Ordinance)
(Stock Code: 00883)
ANNOUNCEMENT
| The Board hereby announces certain selected unaudited key operational statistics of the Group for the first quarter of 2021 (ended 31 March 2021). The comparative statistics of the Group for the first quarter of 2020 (ended 31 March 2020) are also disclosed in this announcement. |
The board of directors of CNOOC Limited (the “Company”) (the “Board”) hereby announces certain selected unaudited key operational statistics of the Company and its subsidiaries (together the “Group”) for the first quarter of 2021 (ended 31 March 2021). The comparative statistics of the Group for the first quarter of 2020 (ended 31 March 2020) are also disclosed in this announcement.
The Company achieved a total net production of 137.7 million barrels of oil equivalent (“BOE”) for the first quarter of 2021, representing an increase of 4.7% year over year (“YoY”). Production from China increased by 8.7% YoY to 94.7 million BOE, mainly attributable to production growth from the commencement of new projects including Liuhua 16-2/20-2 and Luda 16-3/21-2; Overseas production decreased by 3.2% YoY to 43.0 million BOE, mainly due to the decreased production from Egina project in Nigeria, Eagle Ford project in the U.S. and Buzzard oilfield in the U.K. North Sea.
For the first quarter of 2021, the Company made two new discoveries and drilled 18 successful appraisal wells. In offshore China, Kenli 10-2 and Wenchang 9-7 oil and gas bearing structures were successfully appraised. Kenli 10-2 is expected to become a mid-to-large sized oilfield, which indicates broad exploration prospects for shallow lithology oil and gas reservoirs in Bohai, while Wenchang 9-7 is expected to become a mid-sized oilfield.
For the new projects planned to commence production this year, Caofeidian 6-4 oilfield has commenced production and other projects progressed as scheduled.
The unaudited oil and gas sales revenue of the Company reached approximately RMB 48.34 billion for the first quarter of 2021, representing an increase of 21.0% YoY, mainly due to the combined effect of rising international oil price and increased oil and gas sales volume. During the quarter, the Company’s average realised oil price increased by 20.5% YoY to US$59.07 per barrel, which was in line with the trend of international oil prices. The Company’s average realised gas price was US$6.71 per thousand cubic feet, representing an increase of 5.3% YoY, primarily due to the higher gas price in North America.
For the first quarter of 2021, the Company’s capital expenditure decreased by 5.1% YoY to approximately RMB 16.04 billion as a result of the schedule of development projects.
First Quarter and Year-to-Date Net Production Summary (Unaudited)
| 2021 | 2020 | ||||||||||||
| Q1 | YTD | Q1 | YTD | ||||||||||
Crude & Liquids |
Natural Gas | Total | Crude & Liquids |
Natural Gas |
Total | Crude & Liquids |
Natural Gas | Total | Crude & Liquids |
Natural Gas | Total | ||
| (mmbbls) | (bcf) | (mm BOE) |
(mmbbls) | (bcf) | (mm BOE) |
(mmbbls) | (bcf) | (mm BOE) |
(mmbbls) | (bcf) | (mm BOE) |
||
| China | |||||||||||||
| Bohai | 43.1 | 15.0 | 45.6 | 43.1 | 15.0 | 45.6 | 41.2 | 14.0 | 43.6 | 41.2 | 14.0 | 43.6 | |
| Western South China Sea | 9.6 | 37.0 | 16.0 | 9.6 | 37.0 | 16.0 | 9.9 | 37.4 | 16.4 | 9.9 | 37.4 | 16.4 | |
| Eastern South China Sea | 22.3 | 37.9 | 28.6 | 22.3 | 37.9 | 28.6 | 18.6 | 35.7 | 24.6 | 18.6 | 35.7 | 24.6 | |
| East China Sea | 0.6 | 6.9 | 1.7 | 0.6 | 6.9 | 1.7 | 0.6 | 4.9 | 1.4 | 0.6 | 4.9 | 1.4 | |
| Onshore | - | 15.8 | 2.6 | - | 15.8 | 2.6 | - | 6.9 | 1.1 | - | 6.9 | 1.1 | |
| Subtotal | 75.7 | 112.6 | 94.7 | 75.7 | 112.6 | 94.7 | 70.3 | 98.9 | 87.1 | 70.3 | 98.9 | 87.1 | |
| Overseas | |||||||||||||
| Asia (excluding China) | 6.5 | 15.0 | 9.2 | 6.5 | 15.0 | 9.2 | 2.3 | 13.5 | 4.7 | 2.3 | 13.5 | 4.7 | |
| Oceania | 0.1 | 3.1 | 0.7 | 0.1 | 3.1 | 0.7 | 0.3 | 7.6 | 1.8 | 0.3 | 7.6 | 1.8 | |
| Africa | 7.6 | - | 7.6 | 7.6 | - | 7.6 | 9.8 | - | 9.8 | 9.8 | - | 9.8 | |
| North America (excluding Canada) | 5.9 | 11.0 | 7.7 | 5.9 | 11.0 | 7.7 | 6.9 | 13.7 | 9.2 | 6.9 | 13.7 | 9.2 | |
| Canada | 6.0 | - | 6.0 | 6.0 | - | 6.0 | 6.6 | 0.04 | 6.6 | 6.6 | 0.04 | 6.6 | |
| South America | 5.1 | 12.7 | 7.3 | 5.1 | 12.7 | 7.3 | 4.0 | 13.2 | 6.3 | 4.0 | 13.2 | 6.3 | |
| Europe | 4.5 | 0.4 | 4.5 | 4.5 | 0.4 | 4.5 | 5.9 | 1.0 | 6.0 | 5.9 | 1.0 | 6.0 | |
| Subtotal | 35.6 | 42.2 | 43.0 | 35.6 | 42.2 | 43.0 | 35.8 | 49.0 | 44.5 | 35.8 | 49.0 | 44.5 | |
| Total* | 111.3 | 154.7 | 137.7 | 111.3 | 154.7 | 137.7 | 106.2 | 147.9 | 131.5 | 106.2 | 147.9 | 131.5 | |
* Including our interest in equity method investees, which is approximately 4.7 mmboe in Q1 2021 and 5.0 mmboe in Q1 2020.
First Quarter and Year-to-Date Revenue and Capital Expenditures (Unaudited)*
| RMB (millions) | US$ (millions) | |||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
| Q1 | YTD | Q1 | YTD | Q1 | YTD | Q1 | YTD | |||||||||||||||||||||||||
| Sales Revenue | ||||||||||||||||||||||||||||||||
| Crude and liquids | 42,236 | 42,236 | 33,984 | 33,984 | 6,499 | 6,499 | 4,872 | 4,872 | ||||||||||||||||||||||||
| Natural gas | 6,099 | 6,099 | 5,964 | 5,964 | 938 | 938 | 855 | 855 | ||||||||||||||||||||||||
| Marketing revenue, net | -202 | -202 | 266 | 266 | -31 | -31 | 38 | 38 | ||||||||||||||||||||||||
| Others | 1,790 | 1,790 | 1,365 | 1,365 | 275 | 275 | 196 | 196 | ||||||||||||||||||||||||
| Total | 49,923 | 49,923 | 41,579 | 41,579 | 7,681 | 7,681 | 5,961 | 5,961 | ||||||||||||||||||||||||
| Capital Expenditures | ||||||||||||||||||||||||||||||||
| Exploration | 3,667 | 3,667 | 3,432 | 3,432 | 564 | 564 | 492 | 492 | ||||||||||||||||||||||||
| Development | 8,153 | 8,153 | 10,110 | 10,110 | 1,255 | 1,255 | 1,449 | 1,449 | ||||||||||||||||||||||||
| Production | 4,151 | 4,151 | 3,222 | 3,222 | 639 | 639 | 462 | 462 | ||||||||||||||||||||||||
| Others | 65 | 65 | 136 | 136 | 10 | 10 | 20 | 20 | ||||||||||||||||||||||||
| Total | 16,036 | 16,036 | 16,900 | 16,900 | 2,468 | 2,468 | 2,423 | 2,423 | ||||||||||||||||||||||||
* Capitalized interests were not included. Capitalized interests for Q1 2021 and Q1 2020 were RMB 554 million and RMB 699 million, respectively.
Unless otherwise indicated, an exchange rate of US$1 = RMB6.4987 has been used for the first quarter of 2021, and an exchange rate of US$1 = RMB6.9750 has been used for the first quarter of 2020, where applicable. The usage of these exchange rates is for illustration only and does not constitute a representation that any amount has been, could have been or may be exchanged or converted at the above rates or at any other rate at all.
This announcement is published on the website of The Stock Exchange of Hong Kong Limited (http://www.hkex.com.hk) and on the Company’s website (http://www.cnoocltd.com).
| By
Order of the Board CNOOC Limited Wu Xiaonan Joint Company Secretary |
Hong Kong, 22 April 2021
As at the date of this announcement, the Board comprises:
Executive Director Xu Keqiang
|
Non-executive Directors Wang Dongjin (Chairman) Li Yong(Vice Chairman) Wen Dongfen
Independent
Non-executive Directors Lawrence J. Lau Tse Hau Yin, Aloysius Qiu Zhi Zhong |
Exhibit 99.2
CNOOC LIMITED
Press release – For Immediate Release
CNOOC Limited Announces Key Operational Statistics for Q1 2021
(Hong Kong, April 22, 2021) - CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the first quarter of 2021.
The Company achieved a total net production of 137.7 million barrels of oil equivalent (“BOE”) for the first quarter of 2021, representing an increase of 4.7% year-over-year (“YoY”). Among which, it was mainly attributable to production growth from the commencement of new projects, such as Liuhua16-2/20-2 and Lvda16-3/21-2, net production from China increased by 8.7% YoY to 94.7 million BOE. For the new projects planned this year, Caofeidian 6-4 oilfield has commenced production, and other projects progressed as scheduled.
During the period, the Company made two new discoveries and drilled 18 successful appraisal wells. Kenli 10-2 and Wenchang 9-7 oil and gas bearing structure were successfully appraised in offshore China. Kenli 10-2 is expected to be a mid-to-large sized oilfield, which indicates a broad exploration prospect for shallow lithology oil and gas reservoirs in Bohai while Wenchang 9-7 is expected to be a mid-sized oilfield.
For the first quarter of 2021, the Company’s average realised oil price increased by 20.5% YoY to US$59.07 per barrel, which was in line with the changes of international oil prices. The Company’s average realised gas price was US$6.71 per thousand cubic feet, representing an increase of 5.3% YoY, primarily due to the rising gas price in North America. The unaudited oil and gas sales revenue of the Company reached approximately RMB 48.34 billion during the period, surged 21.0% YoY mainly due to the combined effects of rising oil price and increased oil and gas sales volume.
During the period, the Company's capital expenditure decreased by 5.1% YoY to approximately RMB 16.04 billion as a result of the planned schedule of development projects.
Mr. Xu Keqiang, CEO of the Company, said, “In the first quarter of 2021, the Company efficiently progressed in increasing the reserves and production and has achieved a better-than-expected production and operation results. Going ahead, in the premise of guaranteeing a safe production environment, the Company will further explore the internal and external potentials, continuously carry out work related to cost reduction and efficiency enhancement, organize and advance various works in an orderly way and therefore strive to complete the annual production and business target.”
— 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 “expect”,
“anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”,
“will”, “project”, “should”, “believe”, “plans”, “intends” and
similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses
made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments,
as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments
will meet the expectations and predictions of the Company depends 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, including but not limited to
those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and
fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, the exploration
and development activities, mergers, acquisitions and divestments activities, environmental responsibility and compliance requirements,
foreign operations and cyber system attacks. 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 Annual Report on Form 20-F filed
in April of the latest fiscal year.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.
*** *** *** ***
For further enquiries, please contact:
Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: [email protected]
Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: [email protected]