CNOOC Limited: Production and Reserves Hit Record High Net Profit and Dividend Significantly Increased
CNOOC (CEO)
US:NYSE Investor Relations:
cnoocltd.com
Company Research
Source: PR Newswire
HONG KONG, March 25, 2020 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its 2019 annual results for the year ended December 31, 2019.In 2019, CNOOC Limited has achieved remarkable results, with multiple operating indicators reached a record level since its listing. Total net oil and gas production of the Company amounted to 506.5 million barrels of oil equivalent ("BOE"), exceeding 500 million BOE for the first time. Multiple projects safely commenced production ahead of schedule.The Company continued to strengthen its exploration and development efforts, and the workload reached a record high. During the year, 23 commercial discoveries were made and 30 oil and gas bearing structures were successfully appraised. The appraisal of Bozhong 19-6 condensate gas fields in offshore China made breakthrough again, with newly-added proved in-place volume of nearly 200 million cubic meters of oil equivalent. In addition, five new discoveries w
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