March 23 (Reuters) - CNOOC Ltd
* fy net oil and gas production of 476.9 million boe
* fy net profit rmb 637 million versus rmb 20,246 million a year ago
* Recommended a final dividend of hk$0.23 (tax inclusive) per share
* fy total revenue rmb 146,490 million versus rmb 171,437 million
* in 2017, 5 new projects will commence production
* "group is dealing with a number of other lawsuits and arbitrations that arise in ordinary course of business"
* "company believes these proceedings are not expected to have a material effect on consolidated financial statement"
* Plan to increase reserves and production through drill bits and value-driven acquisitions
* Will continue to concentrate independent exploration efforts on operating areas, especially offshore China Source text for Eikon: Further company coverage: