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BRIEF-CNOOC Posts FY Revenue RMB416,609 Million

March 21 - 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 A

BRIEF-CNOOC Posts FY Revenue RMB416,609 Million

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