CNOOC announces the 2015 annual achievements

On March 24th, China National Offshore Oil Company Limited (CNOOC) announces the 2015 annual achievements by December 31st, 2015.

The company’s annual oil and gas net production reaches 495.7 million barrels of oil equivalent, with a 14.6 percent increase over the same period last year. In 2015 the average oil price of this company is $51.27 per barrel, with a 46.6 percent decrease over the same period last year. The average gas price is $6.39 per thousand cubic feet, decreasing 0.8 percent from one year earlier. Oil and gas sales revenue falls to 146.6 billion yuan, decreasing 32.8 percent from one year earlier. The oil cost per barrel is $ 39.82 per barrel of oil equivalent, with a 5.9 percent decrease over the same period last year. The realized net profits is 20.25 billion yuan, with a 66.4 percent decrease over the same period last year. In 2015, the company’s capital expenditure amounts to 66.5 billion yuan, decreasing 37.9 percent compared with the same period of last year.

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