LogIn LogOut

China's CNOOC Eyes Record Oil, Gas Production for 2023

January 11, 2023

Credit: corlaffra/AdobeStock
Credit: corlaffra/AdobeStock

 China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal.  

The state-controlled offshore oil and gas company produced about 620 million boe last year, exceeding its goal of 600-610 million boe, CNOOC said on Wednesday in a filing to the Hong Kong Stock Exchange outlining its annual strategic outlook.

CNOOC plans capital spending this year of 100 billion to 110  billion yuan ($16 billion), compared with last year's 100 billion yuan.

The company expects to launch production at nine new projects this year, including domestic fields Bozhong 19-6 in the Bohai Bay basin and Lufeng 12-3 in the Pearl River Mouth basin, and global projects like Mero 2 in Brazil and Payara in Guyana. 

($1 = 6.7738 Chinese yuan renminbi)

(Reuters - Reporting by Chen AizhuEditing by Mark Potter)



Current News

Roc Oil Books Velesto Jack-up Rig

Roc Oil Books Velesto Jack-up Rig

All 47 Turbines Installed at Formosa 2 Offshore Wind Project

All 47 Turbines Installed at Formosa 2 Offshore Wind Project

Exxon Banks Record $56B Profit in '22

Exxon Banks Record $56B Profit in '22

Offshore Wind: Floating Wind is the Future

Offshore Wind: Floating Wind is the Future

U.S. Major ExxonMobil Faces $220M Tax Claim from Russia

U.S. Major ExxonMobil Faces $220M Tax Claim from Russia

Japan's Marubeni Starts Commercial Ops at Akita Offshore Wind Farm

Japan's Marubeni Starts Commercial Ops at Akita Offshore Wind Farm

Samsung Heavy Delivers LNG Pair for MISC

Samsung Heavy Delivers LNG Pair for MISC
photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com