Energy Foundation Precisely Empowers National Regional Development Strategy CNOOC Limited's investment scale in four major regions during the "14th Five-Year Plan" period has grown by nearly 50%.
As a key player in China's offshore oil and gas development, CNOOC Limited has actively contributed to the national regional development strategy. According to the company's planning and investment data, since the "14th Five-Year Plan," CNOOC has focused on the coordinated development of Beijing-Tianjin-Hebei, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, the integrated development of the Yangtze River Delta, and the Hainan Free Trade Port. The total investment in energy layout has increased by over 48%, effectively transforming investments into tangible results for high-quality regional development.
**Energy Supply: Enhancing Regional Energy Resilience** In the Beijing-Tianjin-Hebei region, CNOOC's Bohai Oilfield has intensified efforts to increase reserves and production. In 2024, its total oil and gas output exceeded 39 million tons, with crude oil increments accounting for over 60% of the national total, solidifying its role as a "ballast stone" for regional energy supply. In the Greater Bay Area, CNOOC added more than 400 million tons of proven geological oil reserves and over 70 billion cubic meters of natural gas from 2021 to 2024, strengthening the resource foundation for the region's refining and chemical industries. In Hainan, CNOOC has supplied over 26 billion cubic meters of natural gas, maintaining a market share of more than 95%.
**Investment-Driven: Activating Industrial Chain Synergy** In 2024, Huizhou Petrochemical's 22 million-ton-per-year crude oil processing and 3.8 million-ton-per-year ethylene capacity projects operated at full capacity, supplying high-value-added chemical products directly to pillar industries such as automobiles and electronics in the Greater Bay Area, forming a closed-loop ecosystem from fine processing to end applications. CNOOC's Ningbo "Green Energy Port" and Yancheng "Green Energy Port" have an annual LNG processing capacity exceeding 7 million tons, complemented by over 50 vehicle refueling stations and industrial supply facilities, providing stable gas sources for logistics and chemical industries. The upgrading of Hainan's Basuo Port, in coordination with a 3.5 billion-cubic-meter-per-year chemical feedstock gas project, continues to improve the alignment between energy structure and industrial layout.
**Green Transformation: Demonstration Projects Flourish** The combination of offshore gas fields and LNG imports has steadily increased the proportion of clean energy in the Greater Bay Area. The offshore CCUS (Carbon Capture, Utilization, and Storage) project at the Enping 15-1 oilfield group has injected over 250,000 tons of CO₂. In the Hainan Free Trade Port, China's first coastal LNG ship refueling station was put into operation, and the world's first 5,000-ton-per-year CO₂-to-methanol industrial demonstration project was launched, producing the country's first ton of green methanol made from urban waste. This project received EU ISCC EU (International Sustainability and Carbon Certification), reducing lifecycle carbon footprint by 75% compared to traditional processes.
**Energy Warmth: Illuminating Homes** Bohai Oilfield ensured stable winter production, safeguarding warmth for millions in Beijing-Tianjin-Hebei. The Yangtze Delta LNG "Green Energy Port" provided critical peak-shaving support for residential gas demand in Jiangsu, Anhui, and Henan. During the "14th Five-Year Plan," Hainan's power generation and urban gas consumption grew from 1 billion to nearly 2.5 billion cubic meters, with CNOOC's gas-fired power plants generating 13.7 billion kWh, lighting up cities and homes.
The nearly 50% increase in investment reflects not only CNOOC's internal transformation needs but also its proactive commitment to serving the national regional development strategy. Moving forward, CNOOC will continue to optimize its investment structure, ensuring precise "drip irrigation" of regional demands and injecting lasting momentum into building a clean, low-carbon, safe, and efficient modern energy system.
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