CNOOC Limited Released the 2022 Environmental, Social and Governance Report

HONG KONG,April 11,2023 --CNOOC Limited ("the Company",SEHK: 00883,SSE: 600938) released its 2022 Environmental,Social and Governance (ESG) Report in Hong Kong today.

The Company attaches great importance to ESG disclosure. ESG report has been regarded as an important carrier for disclosing compliance information,strengthening sustainable development,and improving communication among stakeholders. The Company employs an independent third party to verify the key indicators in the report,and actively responds to the concerns of the stakeholders such as shareholders,customers,partners,employees and communities. Since 2005,CNOOC Limited has regularly and timely disclosed its social responsibility and ESG performance,which has been widely recognized by the market. In 2022,the Company won many important ESG awards,such as the "Asia's Best CSR" by Corporate Governance Asia,the "Gold Award" under The Asset ESG Corporate Awards by The Assets,and the "Sustainable Development Benefit Award" under the Evergreen Awards by Caijing Magazine.

As a responsible listed company,CNOOC Limited is committed to becoming the leading force of increasing reserves and production,the driving force of green and low-carbon development,and the propelling force of building a harmonious society. This year,the Company has established the Strategy and Sustainability Committee to further reinforce ESG management. CNOOC Limited has always regarded compliant operation as the cornerstone to underpin the healthy growth of the Company,and constantly optimized the risk management system. The Company has always stuck to high standards of business ethics,implemented special actions to enhance management,thereby ensuring the stable and sound operation of the Company.

CNOOC Limited strives to enhance the capability of scientific and technological innovation,with core technological breakthroughs achieved. In 2022,the Company won a total of 15 science and technology awards at the national,ministerial and provincial levels. China's first independently developed deep water and shallow water subsea production systems were successfully put into use in domestic waters. The intelligent oilfield development has caught up the fast train. The Phase II project of China's first smart oilfield was constructed in an orderly manner. China's first offshore intelligent gas field has commenced production. The world's first large-scale development of offshore super heavy oil reserves has started,and the first deep-water jacket platform in Asia,Haiji-1,has been commissioned.

The Company pushes forward its green transition,with a clearer path charted for its clean,low-carbon,and green development. CNOOC Limited published the Action Plan for Energy Conservation and Carbon Reduction,which promoted energy conservation and carbon reduction in the whole process of oil and gas development,actively adopted new technologies and new modes,and continuously drove the green and low-carbon transformation of the Company. During the year,RMB360 million was invested into over 50 energy-saving renovation projects,which have saved 275,700 tons of standard coal and reduced 596,600 tons of carbon dioxide emission. In 2022,CNOOC Limited's first oil and new energy integration project was put into operation,and the main part of China's first deep-sea floating wind power platform was completed. The Company insists on establishing an integrated onshore and offshore power supply network,and the Bozhong-Kenli Oilfields Onshore Power Project is estimated to reduce carbon dioxide by 1 million tons each year. In addition,Enping 15-1 oilfields,equipped with a carbon capture and storage device,officially commenced production. The Carbon Capture and Storage/Carbon Capture Utilization and Storage Hub Demonstration Project in Daya Bay has been successfully launched.

The Company regards its employees as the most valuable resources and asset,and actively engages in social welfare and philanthropy,to contribute to the stable and sustainable development of society. The Company cares for the employees' physical and mental health and protects their rights and interests from multiple dimensions. The Company builds a safe and healthy working environment,and shares the benefits of the Company's growth with all the staff. As a responsible corporate citizen,the Company actively fulfills its social responsibilities. In 2022,The Company paid RMB 123.4 billion in tax,and created more than 21,000 jobs around the world. It participated in 55 maritime rescues,and increased public welfare investment in rural revitalization,environmental protection,education,charity and other fields. Over 100 public welfare projects were implemented in 15 countries and regions. The total investment amounted to RMB 96.02 million.

Mr. Wang Dongjin,the Chairman of CNOOC Limited,said,"In 2023,we will adhere to the concepts of 'harmonious development of economy,environment and society' and 'win-win partnership with stakeholders'. The Company will actively respond to the Ten Principles of the UN Global Compact as well as the guidelines and requirements of the listing rules. While continuing to strengthen scientific and technological innovation,green development,and enhancement of quality and efficiency,we will forge ahead on our path to becoming a world-class enterprise and pursue long-term sustainable development."

Notes to Editors:

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

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 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,environmental responsibility and compliance requirements,the Company's price forecast,the exploration and development activities,mergers,acquisitions and divestments activities,HSSE and insurance policies and changes in anti-corruption,anti-fraud,anti-money laundering and corporate governance laws.

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. Ariel Wang

Media & Public Relations

CNOOC Limited

Tel: +86-10-8452-6832

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