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Company Overview

China National Offshore Oil Corporation (CNOOC) is one of the largest state-owned oil companies, and the largest offshore oil and gas producer in China. Established in 1982, the Company has its headquarters in Beijing. It now has 65,800 employees and registered capital of RMB 94.9 billion.

CNOOC has maintained rapid growth and a reputation for quality since its incorporation. It has evolved from an upstream company into an integrated energy company, possessing high performance core business and other related businesses along the value chain. The Company is built upon synergetic business portfolios including: upstream (oil and gas exploration, development, production and sales); mid and downstream (gas and power, chemicals, refinery, fertilizers); technical services (oilfield services, offshore oil and gas engineering and construction, logistics services); financial services; and alternative energy.

In recent years, the Company has implemented effective measures for corporate restructuring, capital operation, overseas acquisition and expansion into mid and downstream businesses. We have experienced a boom period with improved overall competitiveness in conjunction with an outstanding reputation as an efficient international oil company.

In 2009, the Company realized a total revenue of RMB 209.6 billion and a total profit of RMB 52.4 billion. Its total assets reached RMB 518.3 billion and net assets were RMB 325.5 billion. Oil and gas production of the year reached 47.66 million tons of oil equivalent and we produced 32 million tons of refinery and chemical products.

Guided by the corporate values of "Win-win, Responsibility, Integrity, Innovation, Human-oriented", during the Eleventh Five-year Plan period, CNOOC will continue its focus on scientific growth, synergetic and cost efficient development, cultivation of a strong workforce, and competitiveness in research and development. Through sustainable growth and innovation, the Company aims to become a world-class international energy company.