China National Offshore Oil Corporation (CNOOC) signed import contracts and agreements with 22 global suppliers at the CNOOC global procurement contracts signing ceremony during the 6th China International Import Expo (CIIE) on Nov 6, with contract value reaching a record high this year and the accumulated contract amount exceeding $60 billion over six years.
At this CIIE, CNOOC's procurement contracts covered 16 categories, including crude oil, natural gas, equipment, materials, and oilfield services, and were focused on high-tech, cutting-edge, sophisticated, green and low-carbon, and new energy products.
Notably, CNOOC signed an agreement with BASF, which will initiate China's first-ever large-scale carbon dioxide conversion to synthetic gas technology, and further advance low-carbon technology development and utilization of offshore natural gas resources.
CNOOC also released its "2060 Energy Outlook Report" for the first time. In response to the global trend of green and low-carbon energy development, CNOOC is committed to enhancing energy conservation and carbon reduction in the oil and gas industry chain. The company aims to play its part in a "zero-carbon" oil and gas industry and make new contributions to ensuring national energy security while advancing China's green and low-carbon development.
To date, CNOOC has deepened cooperation with petroleum companies from more than 40 countries and achieved substantial results. In the past year, CNOOC insisted on high-level "bringing in" and "going global" and achieved new progress. The Huizhou Phase III ethylene project, with an investment of 50 billion yuan by CNOOC and Shell Petrochemicals Company Limited, one of the largest petrochemicals joint ventures in China, started construction. After completion, the ethylene production capacity in the Huizhou base is expected to reach 3.8 million tons per year. CNOOC has also promoted projects in Guyana's Stabroek and Uganda, making a positive contribution to global oil and gas resource cooperation.
Currently, CNOOC is vigorously promoting the high-quality development of the offshore oil and gas industry, and has broad space for cooperation with domestic and international partners.
In terms of offshore oil and gas exploration and development, the main business of the company, CNOOC is determined to strengthen efforts to “bring in” and has invited global partners to participate in the bidding for new offshore oil and gas exploration blocks in China, aiming to jointly advance key production capacity construction, continually increase the proportion of natural gas supply, and boost deepwater oil and gas production.
In the emerging green industries, CNOOC emphasizes green and intelligent development by accelerating equipment and process upgrades, developing CCUS and CCS businesses, and entering high-end chemical and new material markets.
Regarding technological innovation and digital transformation, CNOOC continues to strengthen key core technology research focused on areas such as deepwater exploration and heavy oil with low permeability, and strives to make new achievements in heavy oil large-scale exploitation and high-end offshore engineering equipment manufacturing.
In addition, CNOOC is intensifying its efforts to advance digital and intelligent transformation, particularly in data governance in operational and management areas. It is deepening the application of digital intelligence platforms in supply chain management and e-commerce platforms, and is actively creating a "6+4+N" digital transformation scenario.
(Executive editor: Xie Yunxiao)
