CNOOC is the largest producer of crude oil and natural gas in China. It is also one of the world’s largest independent gas and oil companies. CNOOC’s core businesses include exploration, production, and marketing of petroleum products and natural gas.
The major operating areas of CNOOC are located in Bohal, Eastern South China Sea, Western South China Sea and in East China Sea. CNOOC also operates in international locations such as Europe, Oceania, South America, North America, Africa and the rest of Asia.
In 2012, CNOOC average daily production of more than 935,000 BOE. By the end of that year, CNOOC’s reserves were estimated at 3.5 billion BOE. Total company assets that year were reported at RMB 456 billion. CNOOC employs more than 10,000 workers.
CNOOC showed growth momentum over the last few years. This growth is demonstrated in the way CNOOC has evolved from being a purely upstream gas and oil exploration company to an energy company known worldwide. CNOOC has a very promising primary business and it covers a complete industrial chain.
With the challenging developments in the industry in recent years, CNOOC was quick to transform its business model to adjust to industry movements. Today, CNOOC operation covers almost all segments of gas and oil exploration, refining, energy generation, engineering and other professional services, energy alternatives and even financial services.
CNOOC’s goal is to develop a favorable premise for the offshore oil industry in China. The company operates with sound business principles as it tackles the challenges of the evolving trends and opportunities in the industry.