CNOOC Ltd. (CEO) Updates on Business Strategy, Development Plan for 2016
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CNOOC Limited Announces Its 2016 Business Strategy and Development Plan
January 19, 2016 3:26 AM ESTHONG KONG, Jan. 19, 2016 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its business strategy and development plan for the year 2016.
The Company's net production target for 2016 is in the range of 470-485 million barrels of oil equivalent (BOE), of which approximately 66% and 34% are produced in China and overseas respectively. The net production targets set for 2017 and 2018 are around 484 and 502 million BOE respectively. The estimated net production for 2015 was approximately 495 million BOE.
There will be 4 new projects coming on stream, including the Kenli 10-4, Panyu 11-5,... More
