CNOOC Limited, together with its subsidiaries, engages in the exploration, development, production, and sale of crude oil, natural gas, and other petroleum products in offshore China. The company's oil and gas properties are located in offshore China, which include Bohai Bay, western south China Sea, eastern south China Sea, and east China Sea, as well as in Indonesia, Australia, Nigeria, Canada, Singapore, Myanmar, the Philippines, Equatorial Guinea, and Kenya. As of December 31, 2007, it had net proved reserves of 2,601.2 million barrels-of-oil equivalent, comprising 1,564.1 million barrels of crude oil and condensate, and 6,222.8 billion cubic feet of natural gas; and interests in 58 producing properties and 51 properties under development offshore China. The company was founded in 1982 and is headquartered in Central, Hong Kong. CNOOC Limited is a subsidiary of China National Offshore Oil Corporation.
Analysts'
Recommendation: | Buy |
$144.53 (08/31/08)
