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August 02, 2015 3:22 PM ET

Oil, Gas and Consumable Fuels

Company Overview of China National Offshore Oil Corporation

Company Overview

China National Offshore Oil Corporation explores, develops, produces, and sells oil and gas in China and internationally. The company also offers engineering and technical services, including oilfield, offshore oil engineering, and professional services. The company is also involved in the production and sale of petrochemical products and fertilizers; and power generation activities through natural gas, and in the provision of finance, trust, insurance, and financial and strategic investment services, and finance leasing services. The company was founded in 1982 and is headquartered in Beijing, China.

No.25,Chaoyangmenbei Dajie

Dongcheng District

Beijing,  100010

China

Founded in 1982

115,000 Employees

Phone:

86 10 8452 1010

Fax:

86 10 6460 2600

Key Executives for China National Offshore Oil Corporation

Chief Executive Officer and Secretary of The Leading Group of The Communist Party
Age: 64
President, Party Leadership Group Member, Director, Member of Strategic Development Committee, Chief Executive Officer of Cnooc Limited and Vice Chairman of Cnooc Limited
Age: 54
Chief Financial Officer and Party Leadership Group Member
Age: 60
Vice President, Party Leadership Group Member and President of CNOOC Limited
Age: 52
Chief Compliance Officer and Party Leadership Group Member
Age: 58
Compensation as of Fiscal Year 2015.

China National Offshore Oil Corporation Key Developments

Chinese Court Accepts Case Against ConocoPhillips China and China National Offshore Oil Corp. over Oil Spills in Northern China in 2011

A Chinese court announced that it has accepted a case brought by a social organization against ConocoPhillips China and China National Offshore Oil Corp. over oil spills in northern China in 2011. Qingdao Maritime Court said that the plaintiff, China Biodiversity Conservation and Green Development Foundation, wants the defendants to immediately repair the damage in the Bohai Bay's ecosystem so as to restore the area to its original state before the oil spill. In June 2011, oil spills from an oilfield jointly owned by Houston-based ConocoPhillips' Chinese subsidiary and CNOOC, drained into the Bohai Sea and its bay.

CNOOC Limited Commences Production from Bozhong 28/34 Oilfields Project

CNOOC Limited has commenced production from its Bozhong 28/34 oilfields comprehensive adjustment project. The Bozhong 28/34 oilfields are located in Bohai with an average water depth of approximately 22 meters. The project consists of three sub-projects, namely Bozhong 28-2S oilfields comprehensive adjustment project, Bozhong 34-1 oilfield comprehensive adjustment project and Bozhong 34-2/4 oilfield comprehensive adjustment project. The main production facilities of the project include 6 offshore platforms and 79 producing wells. There are currently 39 wells producing approximately 22,000 barrels of crude oil per day. The adjustment project is expected to reach its ODP designed peak production of approximately 30,000 barrels of crude oil per day in 2016. The Bozhong 28/34 are independent oilfields in which the Company holds 100% interest and acts as the operator.

China National Offshore Oil Corporation Commences Dongfang1-1 Gas Field Phase I Adjustment Project

China National Offshore Oil Corporation has announced that the Dongfang1-1 gas field Phase I adjustment project has commenced its production. The Dongfang1-1 gas field is located in Yinggehai Basin of Beibu Gulf in the South China Sea with an average water depth of approximately 70 meters. In addition to fully utilize the existing facilities of Dongfang1-1, this adjustment project has also built one wellhead platform. There are 7 producing wells in total with 5 wells currently producing approximately 53 million cubic feet of natural gas per day. The adjustment project is expected to reach its ODP designed peak production of approximately 54 million cubic feet per day in this year. The Dongfang1-1 is an independent gas field in which the Company holds 100% interest and acts as the operator.

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Type
Date
Target
Merger/Acquisition
September 10, 2014
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