CNOOC Announces Operational Statistics

MarineLink.com
Friday, April 26, 2013

CNOOC Limited announced its key operational statistics for the first quarter of 2013.

During the quarter, the Company achieved a total net production of 93.6 million barrels of oil equivalent (BOE), representing 17.3% increase year over year (YoY), primarily attributable to the production contribution from the acquisition of Nexen Inc ., the new oil and gas projects on stream, the resumption of Penglai 19-3 oil field and the overseas projects.

For the first quarter, the Company made four new discoveries and six successful appraisal wells in offshore China. The appraisal confirmed that Penglai 15-2 was a mid to large sized crude oil discovery. In the perspective of overseas development, the Company successfully completed the acquisition of Nexen.

Greatly benefited from the growth in production volume, the unaudited oil and gas sales revenue of the Company reached approximately RMB 55.31 billion during the period, representing an increase of 13.3% YoY. In the first quarter, the Company’s average realized oil price decreased 8.7% YoY to US$110.29 per barrel. The Company’s average realized gas price went down 1.5% YoY to US$5.79 per thousand cubic feet, primarily due to the relatively lower realized gas price of Nexen.

During the period, the Company's capital expenditure for exploration, development and production reached approximately RMB14.80 billion, representing an increase of 53.5% YoY.

www.cnoocltd.com

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

Dozens Missing off Bangladesh after Boat Sinks

About 40 illegal migrants heading from Bangladesh to Malaysia to look for work were missing on Thursday after their boat sank, police said. A steady stream of

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Energy

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Wartsila Sees Low Oil Price Impacting Shipping

CEO cautious on 2015 outlook. Finnish ship engine and power plant maker Wartsila reported a smaller-than-expected quarterly profit and warned lower crude prices

Offshore Energy

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

Wärtsilä Propulsion Solution for 3 Tugs

Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1502 sec (7 req/sec)