Capex Data
CNOOC plans to spend $5.24 billion in 2008 - an increase of almost 50% on last year's budget.
The company aims to produce between 195 million and 199 million barrels of oil and gas equivalent this year, up from a revised 2007 output forecast of between 169 million and 171 million boe.
The $5.24 billion budgeted for capital expenditure is a 43.7% increase on the 2007 budget.
During 2008, 10 new projects are expected to come on stream, including major offshore China projects such as platform B, D, E of Penglai 19-3 phase II, Wenchang oilfields and Xijiang 23-1. The company's exploration programme will continue to focus on offshore China, where more drilling activities and seismic data collection work will be conducted during the year.
Future Plans
During 2008, 10 new projects are expected to come on stream, including major offshore China projects such as platform B, D, E of Penglai 19-3 phase II, Wenchang oilfields and Xijiang 23-1. The company's exploration programme will continue to focus on offshore China, where more drilling activities and seismic data collection work will be conducted during the year.