CNOOC Limited         131904

SHIPYARD / SHIP REPAIR

CNOOC Limited is China's largest producer of offshore crude oil and natural gas and one of the world's largest independent oil and gas exploration and production companies. It focuses on exploration, development, production, and sale of crude oil and natural gas.Bohai is the largest crude oil production site in China and also the most important crude oil producing area for the Company. The crude oil produced in this region is mainly heavy oil. The operational area in Bohai is mainly shallow water with a depth of approximately 10 to 30 meters. As of the end of 2024, the net proved reserves in Bohai reached 2.24 billion BOE, representing approximately 30.8% of the Company’s total reserves. In 2024, the oil and gas net production reached 653,000 BOE/day, representing approximately 32.9% of the Company’s production.In the future, Bohai will still be one of the main sources of production growth for the Company. Bozhong 26-6 Oilfield Development Project (Phase I) has come on stream in February 2025, and other projects including Kenli 10-2 Oilfields Development Project (Phase I) will also be put into production in 2025.morehide

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