On July 22, CNOOC Limited ("CNOOC Ltd.") announced that BZ 29-4, an independent oilfield in the Bohai Bay, has commenced production successfully.

BZ 29-4 oilfield, with an averaged water depth of about 22 meters, is located in the south part of Bohai Bay. The field's development and production operation will mainly rely on the facilities of the producing field BZ 28-2S. BZ 29-4 is projected to peak its daily production at 7,800 barrels within 2010.

Chen Bi, Executive Vice President of CNOOC Ltd., said, "The start-up of BZ 29-4 gives us more confidence in meeting our annual production target. We will continue to enhance our operation performance and ensure more projects to be brought on stream within this year."

BZ 29-4 is an independent oilfield. CNOOC Ltd. holds 100% interest and acts as the Operator.