Construction of the integrated treatment platform for the second phase of CNOOC’s Deep-sea One project
CNOOC gears up for offshore challenge
China’s state-controlled offshore specialist is looking to bump up output again this year is it turns its attention to more-difficult assets
CNOOC’s plans to expand production after robust growth last year underline the growing importance of offshore fields for maintaining homegrown oil and gas supply, as the Chinese offshore specialist ramps up spending to convert deeper, more challenging resources into production assets. CNOOC aims to produce 700–720m boe this year, which would be an increase of 3.7–6.7% from last year’s higher-than-expected output of c.675m boe, according to the NOC’s recent annual strategy preview. The company had estimated a year ago that it would produce 650–660m boe for 2023. Looking ahead, CNOOC aims to ramp output to 780–800m boe in 2025 and 810–830m boe in 2026. The target range for next year is an impr
Also in this section
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
