CNOOC LIMITED 2007 Mid-Year Review Media Briefing August 29, 2007
Mid-Year Summary Highlights Stable production growth: 85.4 mm BOE, increased by 4.5% yoy Gas production rapidly increased by 28.5% yoy Successful exploration program 7 new discoveries, with a significant discovery with light crude,…
Summary Results Net production increased by 4.5% yoy, with gas production rapidly increased by 28.5% yoy Oil and gas sales slightly down by 6.4% yoy due to lower realized oil price Net profit down by 10.6% yoy (RMB MM) 1H 2007 1H…
Production Results 1H 2007 1H 2006 change % Net Production Oil mmbbl 68.1 68.3 -0.3% Gas bcf 99.7 77.6 28.5% Total mmboe 85.4 81.7 4.5% Daily Production Oil bbl/d 376,444 377,597 -0.3% Gas mmcf/d 551 429 28.5% Total boe/d…
Capital Expenditure (RMB Million) 15,000 14,201 10,812 10,000 11,873 9,663 5,000 2,328 1,149 0 1H 2006 1H 2007 Exploration Development More development projects on track 6
Mid-Year Dividend The Board of Directors has approved a dividend of HK0.13 per share for 1H 2007 Approximately 37.2% payout of net profit 1.53%(1) interim dividend yield Total interim dividend per share increased by 8.3%…
Development Projects On Track JZ21-1 Offshore installation of Jacket completed Module construction in progress PL19-3 II Platform C Ready for production SES Gas II Ready for production China HZ25-4 Module construction…
Oil and Gas Discoveries JZ25-1 7 Oil and Gas Discoveries Offshore China 0 100 200 300 km Beijing Tianjin Bohai Bay Korea 6 independent discoveries BZ28-2E Bozhong 28-2E BZ26-3 KL20-1 Bozhong 26-3 China Shanghai East China…
Jinzhou25-1: A Significant Discovery Jinzhou25-1 A large discovery with light crude Locates 10km northeast of Jinzhou25-1S 11
Jinzhou25-1: A Significant Discovery Geological breakthrough in Well 2 generation of hydrocarbons and reservoir distribution in Liaoxi sag in Bohai Bay All 3 wells drilled in this area are successful with thick oil and gas pay…
Successful Appraisals JZ25-1 8 Successful Appraisals Offshore China Beijing JX1-1 0 100 200 300 km Tianjin Bohai Bay Korea 7 independent appraisals BZ26-3 BZ28-2E Bozhong 28-2E KL20-1 Bozhong 26-3 China Shanghai East Jinzhou…
HSE Performance CNOOC Limited strives to achieve the highest standards in terms of its health, safety and environmental performance Health and safety incidents are closely monitored and recorded and promptly reported to government…
Sustainable, Stable and Profitable Growth Reserves Continue to add reserves through exploration and opportunistic acquisitions RRR: 100% 5 development projects scheduled to come Development on stream in 2007 Production…
LH11-1 Oil Field Has Successfully Restarted Production Video 16
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