(WO) – CNOOC Ltd. brought nine new projects on stream in the first three quarters of 2026, and its net production reached 593.7 MMboe, up 2.7% year-on-year and a record for the period.
Net production from China rose 1.9% to 408.5 MMboe, mainly on contributions from projects including Kenli 10-2. Overseas net production rose 4.3% to 185.1 MMboe, led by projects in Guyana and Brazil.
In exploration, the company made five new discoveries and successfully appraised 23 oil- and gas-bearing structures. CNOOC said Bozhong 8-3 South and Huizhou 21-8 continued to expand their reserve scale and are expected to become large and medium-sized oil and gas fields.
On the development side, Bozhong 26-6 oil field continued to expand production capacity, supporting supply to the Beijing-Tianjin-Hebei and Bohai Rim regions. At Panyu 10-4, the company achieved fully automated operations through intelligent systems, and it cut carbon dioxide emissions with a power generation system that recovers waste heat from produced water.
Capital expenditure for the nine months was about RMB 89.9 billion, all spent as planned. Oil and gas sales revenue rose 19.5% to RMB 305.35 billion.
CEO Huang Yongzhang said the company will step up exploration and development in the fourth quarter to meet its annual targets. The release did not name the nine projects or give reserve figures for the new discoveries.
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