Latest News » Official Confirmation as Co-sponsor of OTE from CNOOC

Official Confirmation as Co-sponsor of OTE from CNOOC

China National Offshore Oil Corporation (CNOOC) has confirmed to support Offshore Technology, Equipment Exhibition & Conference as co-sponsor and will assist the organizer from all aspects.

China National Offshore Oil Corporation ("CNOOC") is a large state-owned enterprise directly under the State-owned Assets Supervision and Administration Commission of the State Council of China, and the largest offshore oil and gas producer in China. The Company was founded in1982 and headquartered in Beijing.

Since its foundation, CNOOC has maintained a good momentum of development, and has evolved from a pure upstream oil and gas exploration company into an integrated energy group with outstanding principle businesses and complete industry chain, the Company has formed six business segments, namely oil and gas exploration and development, professional and technical services, Oil refining, chemicals, fertilizers and sales, natural gas and power generation, financial services and new energy resources. During the "Eleventh Five-year Plan" period, while focusing on the" Eleventh Five-year Plan" objectives and highlighting the construction of an "offshore Daqing oilfield", the Company has firmly grasped the important strategic opportunities arising from China's economic and social development and responded effectively to the material adverse impact of the global financial crisis with the spirit of deepening reform and promoting development through innovation, and made outstanding achievements in capacity building in energy supply, construction of industry value chain, internationalization construction, modern enterprise system building and formation of soft power, thus the Company has entered into a new phase of development.

In 2010, the Company realized sales revenue of RMB 354.8 billion and total profits of RMB 97.7 billion. Its total assets reached RMB 617.2 billion and net assets were RMB 390.8 billion. Oil and gas production of the year reached 64.94 million tons of oil equivalent and oil refining capability achieved 33.50 million tons.
 

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