BRIEF-CNOOC Posts FY Revenue RMB416,609 Million

Reuters03-21

March 21 (Reuters) - CNOOC Ltd :

* FY REVENUE RMB416,609 MILLION VERSUS RMB 422,230 MILLION

* FINAL DIVIDEND OF HK$0.66 PER SHARE

* FY OIL AND GAS SALES RMB327,867 MILLION

* IN 2023, NET PRODUCTION OF OIL AND GAS REACHED 678 MILLION BOE

* FOR FULL YEAR, CAPITAL EXPENDITURE IS EXPECTED TO BE RMB125-135 BILLION

* LOOKING AHEAD TO 2024 GLOBAL ECONOMIC GROWTH IS EXPECTED TO MAINTAIN MUTED GROWTH

* FOR FULL YEAR, PRODUCTION IS TARGETED AT 700-720 MILLION BOE

* CHINA'S ECONOMY REMAINS ON A LONG-TERM UPWARD TREND

* IN 2024, WE WILL INSIST ON INCREASING OIL AND GAS RESERVES AND PRODUCTION

* OIL AND GAS WILL CONTINUE TO PLAY A SIGNIFICANT PART IN THE STRUCTURE OF THE WORLD’S ENERGY DEMAND FOR A LONG TIME

* ONGOING RECOVERY AND POSITIVE TRAJECTORY OF CHINA'S ECONOMY SUPPORTS DEMAND FOR OIL AND GAS

* BY 2025, EXPECTED PERCENTAGE OF NATURAL GAS GROSS PRODUCTION IN CO'S GROSS OUTPUT WILL BE FURTHER IMPROVED

* OFFSHORE OIL AND GAS SERVES AS A SIGNIFICANT GROWTH DRIVER FOR OIL AND GAS PRODUCTION IN CHINA

* IN 2023, ALL-IN COST AT US$28.83 PER BOE

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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