CNOOC Ltd.

CNOOC Ltd. announces today that Buzios5 Project has commenced production safely. Buzios oilfield is located in the Santos Basin, southeast offshore of Brazil, with a water depth of 1,900 to 2,200 meters. It is the largest deep-water pre-salt oilfield in the world, with a daily production of about 600,000 barrels at present. Buzios5 is the fifth phase of oilfield development. It will be developed with an FPSO and subsea [...]

CNOOC Ltd. 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 [...]

CNOOC Ltd. today announced its operating results for the first quarter of 2023. In the first quarter of 2023, the Company stepped up its efforts in exploration and development, and achieved positive results in increasing reserves and production and improving quality and efficiency. Steady growth in net production was obtained and cost competitiveness was further consolidated. The total net production was 163.9 million [...]

CNOOC Ltd. released its 2022 Environmental, Social and Governance 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 [...]

CNOOC Ltd. today announced its 2022 annual results for the year ended December 31, 2022. In 2022, despite the complicated and volatile energy conditions and international environment, CNOOC Ltd. managed to achieve record highs in its performance through increasing reserves and production, technological innovation and low-carbon transition. The Company continued to reduce costs and increase margins, and maximized its [...]

CNOOC Ltd. announces today that it has discovered Bozhong 26-6 oilfield in Bohai Sea, which brings another hundred million tons of reserves. Bozhong 26-6 oilfield is located in the south of Bohai Sea, with an average water depth of 22 meters. The main oil-bearing play is Archean buried hill and the oil property is light crude. The discovery well BZ26-6-2 was drilled and completed at a depth of 4,480 meters, which [...]

CNOOC Ltd. today announces its business strategy and development plan for the year 2023. The Company raises its production target and capital expenditure budget for 2023. Net production target is 650 million to 660 million barrels of oil equivalent , of which, production from China and overseas accounts for approximately 70% and 30%, respectively. Net production is expected to reach 690 million to 700 million BOE in 2024 [...]

CNOOC Ltd. announces today that Bozhong- Kenli oilfields onshore power project commences operation successfully. Bozhong-Kenli oilfields onshore power project is located in Bohai Bay. The main facilities of the project include 4 offshore electric power platforms and 1 onshore high-voltage substation. The designed power transmission capacity is 520 MW, currently the largest scale onshore power project serving offshore [...]

CNOOC Ltd. announces today that Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project has commenced production. The project is located in the south of Bohai Sea, with an average water depth of around 19 meters. The main production facilities include 1 central platform and 6 unmanned wellhead platforms. 107 development wells are planned to be commissioned, including 67 production wells, 36 water injection wells and 4 [...]

CNOOC Ltd. announces today that Enping 15-1/10-2/15-2/20-4 oilfields joint development project has commenced production. Enping 15-1/10-2/15-2/20-4 oilfields are located in the Eastern South China Sea, with an average water depth of around 90 meters. The main production facilities of the project include 2 drilling production platforms and 1 unmanned wellhead platform. 48 production wells are planned to be commissioned [...]