Noble Energy Begins Crude Oil Production in China's Bohai Bay

Press Release

Jan 13, 2003
Noble Energy Begins Crude Oil Production in China's Bohai Bay

Noble Energy Begins Crude Oil Production in China's Bohai BayHOUSTON, Jan. 13 /PRNewswire-FirstCall/ -- Noble Energy, Inc. (NYSE: NBL) announced today that it has commenced crude oil production from the Cheng Dao Xi (CDX) field, located in the Bohai Bay off the coast of China.

The production platform is designed to produce approximately 10,000 barrels of oil per day (BOPD). Initial production at a rate of 6,000 BOPD commenced on January 13, 2003 from three wells. Production is expected to reach capacity next month from the platform's 18 wells (11 production wells, 5 injectors, 1 water source and 1 gas well).

Charles D. Davidson, Chairman, President and CEO of Noble Energy, said, "With the start-up of crude oil production in China, we have completed yet another significant international project. Cheng Dao Xi is an attractive component of Noble Energy's global portfolio due to its stable production combined with additional exploitation and development opportunities."

The CDX field is located on the south side of Bohai Bay in approximately 25 feet of water. A five-mile pipeline connects the production platform to existing onshore processing and pipeline infrastructure located in the Shengli oil field.

Noble Energy, through its subsidiary Energy Development Corporation (China), Inc., has a 57 percent working interest in the CDX field. China Petro-chemical Corporation (SINOPEC) is Noble Energy's partner with a 43 percent working interest.

Noble Energy is one of the nation's leading independent energy companies and operates throughout major basins in the United States including the Gulf of Mexico, as well as internationally, in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean Sea, the North Sea and Vietnam. Noble Energy markets natural gas and crude oil through its subsidiary, Noble Energy Marketing, Inc.

This news release includes "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this news release, including, without limitation, estimates of production and reserves, construction completion and statements of business prospects, objectives and strategies, are forward-looking statements. Important factors that could cause the actual results of Noble Energy to differ materially from those indicated by the forward-looking statements include, without limitation, the volatility in commodity prices for oil and gas, the actual presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and other operating risks, risks related to exploration and development, competition, government regulation or action, the ability of management to execute its operating plans to meet stated business goals and other risks inherent in Noble Energy's business that are detailed in its Securities and Exchange Commission filings.

SOURCE Noble Energy, Inc.