Native name | 中国海洋石油有限公司 |
|---|---|
| Company type | Public |
| SEHK: 883 (from 2001)[1] Hang Seng Index Component (SEHK only) CSI Midcap 200 | |
| Industry | Oil and gas, energy |
| Founded | August 1999 |
| Founder | CNOOC |
| Headquarters | |
Key people |
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| Total assets | RMB384.26 billion[2] (2012) |
Number of employees | 5,377 (2013)[2] (2012) |
| Parent | CNOOC |
| Subsidiaries | CNOOC Petroleum North America |
| Website | cnoocltd.com |
| CNOOC Limited | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国海洋石油有限公司 | ||||||
| Traditional Chinese | 中國海洋石油有限公司 | ||||||
| |||||||
CNOOC Limited (中国海洋石油有限公司) is China's largest producer ofoffshorecrude oil andnatural gas, noted as such in 2010.[3] It is a majorsubsidiary ofChina National Offshore Oil Corporation (CNOOC) and has been listed on theHong KongSEHK: 883 since February 2001. It was listed on theNew York Stock Exchange from 2001 to 2021. It was on theToronto Stock Exchange between 2013 (following its acquisition ofNexen Inc) and 2021. It was admitted as a constituent stock of theHang Seng Index in July 2001.[2]
China National Offshore Oil Corporation or CNOOC, is a state-owned enterprise based in Beijing, capital of China. In order to float most of its assets on theHong Kong stock exchange, aspecial purpose vehicle was incorporated in Hong Kong as an intermediate holding company, in order to transfer the control of some subsidiaries to the company. Thus, it was considered as ared chip company of the exchange,[1] due to its government background but incorporated outside mainland China. As of 31 March 2020[update], the company had a market capitalization ofHK$363 billion.[1]
In October 2024, CNOOC signed an Exploration, Development & Production Contract (EDPC) withMidland Oil Company, an Iraqi state-run oil company.[4]
Its core domestic operation areas are inBohai, theSouth China Sea, and theEast China Sea. Internationally, it has oil and gas assets in Asia, Africa, North America, South America, and Oceania.[5]
As of December 31, 2011, the CNOOC Limited ownednetproven reserves of approximately 3.19 billionbarrel of oil equivalent (BOE), and its average daily netproduction was 909,000 BOE.[2]
CNOOC Ltd's parent,China National Offshore Oil Corporation (CNOOC), is the third largest of the "Big Three"Chinese oil companies, and traditionally specialised in offshoreupstream exploration and production, whereasCNPC Group specialised in onshore upstream exploration and production, andSinopec Group specialised in refining and marketing. These distinctions are now increasingly blurred as the three companies compete in all areas. All of the "Big Three" have vested the majority of revenue producing assets in listed Hong Kong subsidiaries. CNPC intoPetroChina, Sinopec Group intoSinopec Limited, and CNOOC Group into CNOOC Limited.
Through COOEC and other state owned entities, CNOOC owns and operates a number of offshore vessels, including six largecrane barges, namely "HYSY 202", "HYSY201", "Lanjing", "Blue Xinjiang", "Binhai 109", "HYSY286", "HYSY289" and "HYSY291".[6][7]
| Oil and gas majors (Upstream /Downstream) |
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| Oil (Upstream) | |||||||
| Natural gas |
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| Drilling services |
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| EPC | |||||||
| Refineries |
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