CNOOC targets 338m-348m barrels of oil equivalent output in 2013

30 January 2013 11:17  [Source: ICIS news]

SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) announced on Wednesday that it is targeting to produce 338m-348m barrels of oil equivalent (boe) this year, adding that the company is on track to achieve a 6-10% annual growth in production in 2011-2015.

For 2012, the company estimated its net output at 341m-343m boe, the company said in a statement.

CNOOC said that 10 new oil and gas fields located offshore China to come on stream this year. It expects to drill around 140 exploration wells, it added.

The company’s total capital expenditure this year is expected to reach $12bn-14bn, CNOOC said.

($1 = €0.74)

By: Fanny Zhang
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