(Hong Kong, 20 May 2023) - CNOOC Limited (the “Company”, SEHK: 00883, SSE: 600938) today announces that the Wenchang deep-sea floating wind demonstration project has been successfully connected to the grid for power generation.

The demonstration project is located near the Wenchang oilfields in the western part of the South China Sea, 136 kilometers away from the shore in a water depth of 120 meters. It is the world's first semi-submersible "double hundred" deep-sea floating wind project serving in a water depth of over 100 meters and with an offshore distance of over 100 kilometers. The project's main production facility "Haiyou Guanlan" is China's first deep-sea floating wind power platform that supplies power to offshore oilfield under the most challenging oceanic conditions. With an installed capacity of 7.25 MW, the platform can produce up to 22 million kWh of electricity, equivalent to saving nearly 10 million cubic meters of natural gas and reducing carbon dioxide emissions by 22,000 tons per year.

CNOOC Limited owns 100% equity interest in the demonstration project.

Mr. Wang Dongjin, Chairman of the Company, said, “The successful commissioning of ‘Haiyou Guanlan’ demonstrates the latest achievement of CNOOC Limited in the integrated development of offshore oilfields and new energy business. The Company has made the most out of our intrinsic comparative advantages and China’s leading wind power technologies. It also marks an important step forward for the Company to tap offshore green energy resources.”

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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: mr@cnooc.com.cn

Mr. Bunny Lee Porda Havas International Finance Communications Group Tel: +852 3150 6707 Fax: +852 3150 6728 E-mail: cnooc.hk@pordahavas.com