CNOOC signs record-breaking contracts at CIIE

China National Offshore Oil Corporation (CNOOC) signed import contracts worth a record amount during the 7th China International Import Expo (CIIE), underway in Shanghai between Nov 5 and 10, the company said on Wednesday.

The company entered into agreements with 26 global suppliers, bringing its cumulative contract value over the past seven years to more than $76 billion, underscoring its commitment to deepening open cooperation and accelerating the development of new marine energy production capabilities, it said.

This year, the signed contracts covered a wide range of sectors across the oil and gas industry, including crude oil, natural gas, deep-water oil and gas equipment, and advanced technical services, reflecting a continuous optimization of the procurement structure.

Over the past seven years of participating in CIIE, CNOOC has signed 129 import contracts with 90 global suppliers from 26 countries and regions.

These agreements have strengthened joint efforts in oil and gas exploration, refining and petrochemicals, and offshore carbon capture, yielding positive results and driving deeper integration of domestic and international operations, it said.

Notably, in the liquefied natural gas (LNG) sector, CNOOC has imported over 300 million metric tons of LNG, becoming the world’s second-largest and China’s largest LNG importer.

In line with its commitment to sustainability, CNOOC has accelerated the development of "green oilfields," "green factories," and "green projects." It successfully completed the largest offshore oilfield shore power project globally, which reduces carbon emissions by millions of tons annually.

Zhou Xinhuai, general manager of the company, said he sincerely welcomed global partners to deepen their involvement in CNOOC’s efforts to increase reserves and production, as well as its marine energy transformation.

He emphasized expanding common interests through openness, sharing opportunities through cooperation, and working together to create a new future for high-quality global energy development with a new form of productive capacity.