CNOOC LIMITED 2013 Strategy Preview January 30, 2013
2013 Key Objectives To lay a solid foundation for future production growth Production target at 338-348 mmboe (WTI US90.0/bbl) 10 new fields in offshore China to come on stream, 24 projects under construction within the year Remain…
Production Target (mmboe) 335-345 338-348 350 341-343 330 310 290 270 250 2012 Target 2012 Estimated 2013 Target (WTI US90.0/bbl) (WTI US94.1/bbl) (WTI US90.0/bbl) 2013 production target set at 338-348 mmboe*,…
Major New Projects in 2013 Suizhong 36-1 phase II adjustment To come on stream by year end Qikou 18-1 adjustment To come on stream in 2H Bohai East China Weizhou 6-12 To come on stream in 1H China Sea Lishui 36-1 To come…
Major Project: Liwan 3-1 Year of discovery2006 The first large-size deepwater gas field offshore China CNOOCs interest51%* Startup2013 year end *Husky owns 49% interests of the projects and is the operator 6
Major Project: Suizhong 36-1 Phase II Adjustment Startup of Suizhong 36-1 Phase II: 2001 CNOOCs interest100% Startup of adjustment project: 2013 year end Newly added 4 platforms 83 wells 7
Exploration Program Exploration wells 2D (000 km) 3D (000 km2) 138 140 25.7 24.8 16.4 15.4 2012E 2013B 2012E 2013B 2012E 2013B 2013 exploration program remains intensive, and more efforts will be made on deepwater…
Capex Plan (US mm) 16,000 12,000 14,000 12,000 9,193 6,424 47 8,000 1,368 127 1,178 5,666 4,000 3,662 1,457 2,112 0 2011A 2012E 2013B Exploration Development Production Other 1% 11% 19% Exploration 36% China…
Sustainable, Stable and Profitable Growth Reserves Continue to add reserves through exploration and acquisitions RRR: 100% 10 new fields in offshore China scheduled to Development come on stream Production Production target…
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