Edition:
India

CNOOC Says 2018 Total Capital Expenditure Budgeted At RMB70 Bln To RMB80 Bln


Thursday, 1 Feb 2018 

Feb 1 (Reuters) - CNOOC Ltd <0883.HK>::COMPANY'S TARGETED NET PRODUCTION FOR 2018 IS 470 MILLION TO 480 MILLION BARRELS OF OIL EQUIVALENT.‍IN 2018, FIVE NEW PROJECTS ARE EXPECTED TO COME ON STREAM​.‍COMPANY'S TOTAL CAPITAL EXPENDITURE FOR 2018 IS BUDGETED AT RMB70.0 BILLION TO RMB80.0 BILLION​.COMPANY'S NET PRODUCTION FOR 2017 IS EXPECTED TO BE APPROXIMATELY 469 MILLION BOE.‍IN 2018, COMPANY PLANS TO DRILL 132 EXPLORATION WELLS​.NET PRODUCTION FOR 2019 AND 2020 ARE ESTIMATED TO BE APPROXIMATELY 485 MILLION BOE AND 500 MILLION BOE, RESPECTIVELY.‍IN 2018, COMPANY PLANS TO ACQUIRE APPROXIMATELY 19 THOUSAND SQUARE KILOMETERS 3-DIMENSIONAL (3D) SEISMIC DATA​.‍COMPANY WILL STEADILY INCREASE RESERVE AND PRODUCTIONS LEVELS​.