s under production, development and exploration, including a 43.2% interest in the Buzzard oilfield, and a 36.5% interest in the Golden Eagle oilfield. Other Regions in Europe The company holds a license issued by the government of Iceland for carrying out oil exploration operations in the Norwegian Sea, Northeast Iceland. The project is at exploration and appraisal stage and completed offshore 2D seismic data acquisition and related appraisal work. Sales and Marketing Sales of Crude Oil The company sells its crude oil produced offshore China to the People’s Republic of China market through CNOOC China Limited, its wholly-owned subsidiary. It sells its crude oil produced overseas to international and domestic markets through another wholly-owned subsidiary, China Offshore Oil (Singapore) International Pte Ltd. Nexen Energy ULC, a wholly-owned subsidiary of the company, sells its crude oil and synthetic oil to international markets separately. The company sells three types of crude oil in China, namely, heavy crude, medium crude and light crude. The company’s major customers in China are Sinopec, Petrochina and China National Offshore Oil Corporation. Strategy The key elements of the company's strategy are to focus on reserve and production growth; develop natural gas business; and maintain a prudent financial policy. Competition The company competes with PetroChina and Sinopec. History CNOOC Limited was incorporated with limited liability in 1999 in Hong Kong.
cnooc ltd (883:Hong Kong)
Bank of China Tower
1 Garden Road
Phone: 852 2213 2500
Fax: 852 2525 9322www.cnoocltd.com
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