On November 6, Cnooc Limited held its forum and global procurement signing ceremony during the 8th China International Import Expo (CIIE) in Shanghai, securing deals worth over $13 billion—a record high for the company at a single CIIE. The agreements cover crude oil, natural gas, deepwater oil and gas equipment, and advanced technical services, reflecting continued optimization and upgrading in procurement structure.
At the forum, Chairman Zhang Chuanjiang emphasized that open cooperation is essential for energy security, green transition is imperative for sustainable development, and technological innovation is key to fostering new growth drivers. Cnooc Limited will deepen multilateral collaboration to build a secure and efficient oil and gas supply system, enhancing global energy security. The company aims to balance emission reduction, carbon neutrality, ecological protection, and economic growth while accelerating the development of a low-carbon industrial chain. It also plans to drive industrial innovation through technology, breaking barriers to innovation and delivering mutually beneficial outcomes.
Over the past 40 years, Cnooc Limited has implemented an international development strategy, attracting over 280 billion yuan in foreign investment and maintaining a leading position in China’s foreign capital utilization. Since the first CIIE, the company has signed import contracts and agreements with more than 100 global suppliers from over 30 countries and regions, totaling $89 billion in cumulative deals. It has traded over 900 million tons of oil products and imported 220 million tons of LNG, accounting for 43% of China’s total LNG imports.
Looking ahead to the 15th Five-Year Plan period, Cnooc Limited will strengthen partnerships in oil and gas industry chain development, green transition, and energy technology innovation. The company will focus on increasing domestic oil and gas reserves and production, enhancing international operations, expanding natural gas exploration, and developing offshore wind power. It will also explore emerging sectors such as offshore CCS/CCUS, cold energy utilization, hydrogen, and green fuels, while advancing technological breakthroughs in deepwater, heavy oil, low-permeability reservoirs, and high-temperature/high-pressure fields. Additionally, Cnooc Limited will integrate big data, cloud computing, and AI into its operations to promote open, inclusive, and win-win global energy cooperation.
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