CNOOC Limited Announces Appointment of Chief Executive Officer

HONG KONG,Nov. 19,2019 -- CNOOC Limited (the "Company",SEHK: 00883,NYSE: CEO,TSX: CNU) today announced Mr. Xu Keqiang,an existing Executive Director and President of the Company,has been appointed as the Chief Executive Officer of the Company with effect from 19 November 2019.

The Board would like to take this opportunity to offer Mr. Xu its sincere congratulations on his appointment as the Chief Executive Officer of the Company.

Xu Keqiang

Born in 1971,Mr. Xu is a professor-level senior engineer. He graduated from Northwest University with a Bachelor of Science degree in Oil and Gas Geology. He received a master's degree in Coalfield Oil and Gas Geology from Northwest University in 1996. Mr. Xu joined China National Petroleum Corporation in 1996 and served different positions. From April 2003 to April 2005,he served as Deputy General Manager of Sinopetro Investment Company Ltd. From April 2005 to September 2008,he served as Deputy General Manager of CNPC International (Kazakhstan) Ltd. and concurrently General Manager of CNPC Ai-Dan Munai Joint Stock Company. From September 2008 to March 2014,he served as Deputy General Manager of CNPC International (Kazakhstan) Ltd. and concurrently General Manager of Joint Stock Company CNPC International Aktobe Petroleum. From March 2014 to March 2017,he served as General Manager of PetroChina Tuha Oilfield Company,and Director of Tuha Petroleum Exploration & Development Headquarters. In March 2017,Mr. Xu was appointed as a Vice President of CNOOC. From April 2017 to June 2018,Mr. Xu served as the Chairman of Nexen Energy ULC,a subsidiary of the Company. In between May 2017 and June 2018,he served as the Chairman of a subsidiary of the Company-CNOOC International Limited. In May 2017,Mr. Xu was appointed as a Director of CNOOC China Limited,a subsidiary of the Company. Mr. Xu was appointed as the General Manager of CNOOC China Limited with effect from 21 May 2018. Mr. Xu was appointed as an Executive Director and the President of the Company with effect from 18 April 2017. Mr. Xu has been appointed as the Chief Executive Officer of the Company with effect from 19 November 2019.

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995,including statements regarding expected future events,business prospectus 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 in light of its experience and its perception of historical trends,current conditions and expected future developments,as well as other factors the Company believes are appropriate under the circumstances. However,whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results,performance and financial condition to differ materially from the Company's expectations,including but not limited to those associated with fluctuations in crude oil and natural gas prices,macro-political and economic factors,changes in the tax and fiscal regimes of the host countries in which we operate,the highly competitive nature of the oil and natural gas industry,the exploration and development activities,mergers,acquisitions and divestments activities,environmental responsibility and compliance requirements,foreign operations and cyber system attacks. For a description of these and other risks and uncertainties,please see the documents the Company files from time to time with the United States Securities and Exchange Commission,including the Annual Report on Form 20-F filed in April of the latest fiscal year.

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.

For further enquiries,please contact:

Ms. Jing Liu

Manager,Media & Public Relations

CNOOC Limited

Tel: +86-10-8452-3404

Fax:+86-10-8452-1441

E-mail: mr@cnooc.com.cn

Ms.Ada Leung

Hill+Knowlton Strategies Asia

Tel: +852-2894-6225

Fax: +852-2576-1990

E-mail: CNOOC@hkstrategies.com

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