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CNOOC Targets Record Production

OIL

China’s CNOOC is targeting record production levels in 2023, at 650 million to 660 million barrels of oil equivalent (boe) – around 8% higher than last year’s goal.

  • The company targeted 600-610 million boe last year but instead produced 620 million boe.
  • CNOOC expects to launch production at nine new projects this year, including domestic fields Bozhong 19-6 in the Bohai Bay basin and Lufeng 12-3 in the Pearl River Mouth basin, and global projects like Mero 2 in Brazil and Payara in Guyana.
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China’s CNOOC is targeting record production levels in 2023, at 650 million to 660 million barrels of oil equivalent (boe) – around 8% higher than last year’s goal.

  • The company targeted 600-610 million boe last year but instead produced 620 million boe.
  • CNOOC expects to launch production at nine new projects this year, including domestic fields Bozhong 19-6 in the Bohai Bay basin and Lufeng 12-3 in the Pearl River Mouth basin, and global projects like Mero 2 in Brazil and Payara in Guyana.