Accounted for as high as 78%! CNOOC became the main force in increasing domestic crude oil production in the first half of the year

The increase in crude oil accounted for nearly 80% of the increase in the country, becoming the main force in increasing reserves and production; a total of 9 exploration discoveries were made, and 14 oil and gas structures were successfully evaluated.

China National Offshore Oil Corporation (CNOOC) stated to the public that in the first half of this year, CNOOC exceeded the domestic oil and gas reserves and production tasks. The increase in crude oil accounted for nearly 80% of the increase in the country, and its production and operation performance reached a record high. Handed in a dazzling mid-year report card.

CNOOC Chairman Wang Dongjin said that in the second half of the year, CNOOC will anchor various goals and tasks, promote increased reserves and production with a stronger sense of responsibility and greater efforts, deepen reform and innovation, strengthen market development, and promote cleaner production. Go all out to complete the annual production and operation tasks, and strive to achieve a good start for the "14th Five-Year Plan".01

Increase reserves and production to a new level

In the first half of the year, CNOOC promoted the implementation of the "Seven-Year Action Plan", achieving more than half of the time and more than half of the tasks for domestic oil and gas reserves and production, with remarkable results.

In terms of production, CNOOC increased oil and gas production in the first half of the year and exceeded expectations. Domestic crude oil production increased by 1.84 million tons year-on-year, accounting for 78% of the national crude oil increase, making it the main force in increasing oil and gas reserves and production. Through the promotion of key production capacity construction projects, six projects including the "Deep Sea No. 1" gas field and Caofeidian 6-4 oil field have been put into production safely. In particular, the commissioning of the "Deep Sea No. 1" ultra-deep water gas field marked a historic leap from a water depth of 300 meters to a water depth of 1,500 meters in my country's offshore oil and gas exploration and development.

In terms of reserves, CNOOC has continued to increase its domestic oil and gas exploration efforts, and oil and gas exploration has achieved fruitful results. In the first half of the year, 9 exploration discoveries were made and 14 oil and gas structures were successfully evaluated. In the Bohai Sea, the Kenli 10-2 structure was evaluated efficiently and the proven geological reserves were nearly 100 million tons; in the South China Sea, the Baodao 21-1 structure was tested to obtain high-yield gas flows, which initially showed the prospect of the scale of 100 billion cubic meters of natural gas reserves. The exploration discoveries of this series of large and medium-sized oil and gas fields have consolidated the reserves and resource base for my country's oil and gas production and further strengthened the ability to guarantee oil and gas resources.

While doing a good job in increasing oil and gas reserves and production, CNOOC continued to improve quality and efficiency, and took multiple measures to pressure control production and management costs. The main cost of barrels of oil in the first half of the year was US$28.98, and the operating fee of barrels of oil was US$7.31. Cost competition The advantages are further consolidated.

In the second half of the year, CNOOC will focus on the main business of oil and gas. The exploration field will adhere to the principle of "simultaneous development of oil and gas and tilt towards gas." With a focus on the construction of trillions of large gas regions in the South China Sea, it will increase exploration investment, deepen basic research, strengthen technological research, and make overall plans. Regulate natural gas exploration and actively promote the integration of exploration and development. The development and production will adhere to the efficiency-centered production, and strive to achieve the new goal of increasing domestic crude oil and natural gas production year-on-year.