[ET Net News Agency, 29 April 2020] CNOOC Limited (00883) said the company achieved a
total net production of 131.5 million barrels of oil equivalent (BOE) for the first
quarter of 2020, representing an increase of 9.5% year over year (YoY). Production from
China increased by 9.7% YoY to 87.1 million BOE, mainly attributable to the commencement
of new projects and the acquisition of China United Coalbed Methane Corporation Limited
(CUCBM).
The unaudited oil and gas sales revenue of the company reached approximately RMB39.95
billion for the first quarter of 2020, representing a decline of 5.5% YoY, mainly due to
the combined effect of lower realised oil price and increased oil and gas sales volume.
(RC)