CNOOC (HKG:0883, SHA:600938) expects its net production to have reached 720 million barrels of oil equivalent (BOE) in 2024, with capital expenditure of 132 billion yuan, according to a filing on the Hong Kong bourse on Wednesday.
The company plans to increase production to between 760 million and 780 million BOE in 2025, with a budget of 125 billion to 135 billion yuan.
The filing further stated that CNOOC aims to achieve net production of 780 million to 800 million BOE in 2026 and 810 million to 830 million BOE in 2027.
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