CNOOC Limited Announces its 2019 Business Strategy and Development Plan
CNOOC (CEO)
US:NYSE Investor Relations:
cnoocltd.com
Company Research
Source: PR Newswire
HONG KONG, Jan. 23, 2019 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its business strategy and development plan for the year 2019.The Company's net production target for 2019 is 480 million to 490 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 63% and 37%, respectively. The Company's net production for 2018 is expected to be approximately 475 million BOE. The Company's net production for 2020 and 2021 are estimated to be 505 million to 515 million BOE and 535 million to 545 million BOE, respectively.In 2019, six new projects are expected to come on stream, of which the Egina oil field in Nigeria and Huizhou 32-5 oil field comprehensive adjustment/Huizhou 33-1 oil field joint development project in offshore China have commenced production. The other four projects, namely Appomattox project in the US Gulf of Mexico, Bozhong 34-9 oil field, Caofeidian 11-1/11-6 compreh
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