HONG KONG, June 24, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces its wholly owned subsidiary, CNOOC Hong Kong Holding Limited, has entered into the Contract for Exploration and Production of Hydrocarbons (EPC) on the Zhylyoi Subsoil Area with Ministry of Energy of the Republic of Kazakhstan and Joint Stock Company National Company KazMunayGas (KMG).

The Zhylyoi Subsoil Area is located partially in the Atyrau region and partially in the Kazakhstan sector of the Caspian Sea, with an area of approximately 958 square kilometers.

According to the terms of the contract, the first stage of the exploration period shall be 9 years. CNOOC Hong Kong Holding Limited and KMG shall each hold 50% interests. The two parties shall establish a joint operating company and act as the operator.

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Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

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This press release includes forward looking information, including statements regarding the likely 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", "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 as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations.

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.

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For further enquiries, please contact:

Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: [email protected]

Mr. Cheng Yao
Ever Bloom (HK) Communications Consultants Group Limited
Tel: +852 5540 0725
Fax: +852 2111 1103
Email: [email protected]