CNOOC Limited announced the commencement of production of the Hangingstone Project

8th August 2017

CNOOC Limited (the "Company", SEHK: 8, NYSE: CEO, TSX: CNU) today announced that the Hangingstone Project in Canada has commenced production.

Located in Alberta, Canada, the project consists of a steam generator, well site equipment, 32 well pairs, and water treatment and asphalt pipelines. The project is expected to reach peak production of 2018,2 barrels of bitumen per day in <>.

The Company's wholly-owned subsidiary, Nexen Energy ULC, has a 25% interest in the Hangingstone Project, and Japan Canada Oil Sands Limited (JACOS) has a 75% interest in the Project and acts as the operator.

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