CNOOC Ltd (HKG:0883): ConocoPhillips, CNOOC Claimed RMB235M

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CNOOC Limited (HKG:0883) said that it was informed that its controlling shareholder, China National Offshore Oil Corporation (CNOOC), received a Notice Calling for Responses from Tianjin Maritime Court of the PRC on 10 January 2012. Twenty-nine marine product culturists from Laoting County, Tangshan City, Hebei Province, as plaintiffs, have initiated legal proceedings against ConocoPhillips China Inc. and CNOOC (the defendants) and have claimed for compensation from the defendants for cultivation losses incurred arising from the oil spill incident which occurred at the Peng Lai 19-3 Oilfield.

The plaintiffs have claimed for: compensation by the defendants for losses of RMB234.5746 million in total suffered as a result of environmental pollution by the oil spill incident; payment by the defendants of evaluation fees of RMB7.0372 million in total which have been incurred by the plaintiffs; and the bearing by the defendants of the relevant litigation costs.

CNOOC Limited said it has consulted its legal advisers in relation to the above matter.

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