CNOOC Ltd predicts flat output
By Wang Yu (China Daily)Updated: 2007-01-31 08:55 China's top offshore oil and gas producer CNOOC Ltd said yesterday it aimed to lay a solid foundation for robust long-term growth beyond 2007, with several new projects to begin next year.
| |||
"Although the production target for this year has not seen a substantial year-on-year increase, it will lay the foundation for several new projects, which will be put into operation in 2008 and 2009," Yang said.
A woman walks past the headquarters of the China National Offshore Oil Corp in Beijing. The company said yesterday its overall production in 2007 will be flat at 162 to 170 million barrels oil equivalent. AFP
The firm's production volume for 2006 is estimated at 165 to 168 million BOE.
CNOOC said damage to its Liuhua oilfield facilities caused by Typhoon Pearl last
year was partly why it is expected to pull up short of its 170 million BOE
production target.
| 1 | 2 | 3 |  |
(For more biz stories, please visit Industry Updates)