CNOOC announces start of production at Libra Block

11/27/2017

HONG KONG -- CNOOC Limited announced today Libra Block in Brazil has already started production.

The Libra Block is located approximately 180 km off the Rio de Janeiro coast. The block had its first oil produced with the Pioneiro de Libra FPSO, destined to extended well tests, with the purpose of evaluating the dynamic behavior of the oil reservoir and deepening the knowledge on the characteristics of the deposit. Pioneiro de Libra has a daily operational capacity rate up to 50,000 barrels of crude oil and 4 MMcm of associated gas.

The Company holds 10% in the Libra Consortium, with the operator Petrobras (40%), Shell (20%), Total (20%) and CNPC (10%).

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