CNOOC Steps up Projects in 2021

A CNOOC LNG tanker is seen off Hainan province in September 2020. [Photo provided to China Daily]

CNOOC International Limited, the international branch of China National Offshore Oil Corp, the country's top offshore oil and gas driller, has stepped up international energy cooperation in 2021 despite the impact of COVID-19 with several projects put into operation, the company said on Jan 20, 2022.

The company has acquired an additional 5 percent stake in production rights for the Buzios oilfield for $2.8 billion from Brazilian state-run oil company Petroleo Brasileiro SA last year.

It has also successfully nailed a natural gas sales agreement in Nigeria, as it vows to further increase investment in its existing oil and gas operation in the country, which it described as one of its most strategic and important overseas business undertakings.

Meanwhile, the company has also been pushing forward its projects in the United States and the UK.

Being the operator of the Buzzard, Golden Eagle and Scott platforms, the company is one of the largest oil producers in the UK North Sea. It vows to continue maximizing the value of its existing portfolio in the country.

The company said its successful growth as an upstream oil and gas producer has been achieved by consistently finding and developing world-class assets, and it vows to look for more opportunities in the Middle East to create new opportunities for global growth.