Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 9
2
Company Snapshot 10
2.1 Key Information 10
2.2 Company Overview 10
2.3 Financial Performance 10
2.4 Industry Outlook -- Production &
Exploration 10
2.5 SWOT Snapshot 11
3 CNOOC Limited , Exploration and
Production Summary 12
3.1 CNOOC Limited, Fields under development 12
3.2 CNOOC Limited , Active Exploration Blocks, by Country, 2000-2007 13
3.3 CNOOC Limited, Crude Oil Production, by Country 14
3.4 CNOOC Limited,
Natural Gas Production, by Country 15
4 CNOOC Limited, Crude Oil and
Natural Gas Production By Fields 16
4.1 CNOOC Limited, Crude Oil
Production 16
4.1.1 CNOOC Limited, Crude Oil Production in China, By
Fields 16
4.1.2 CNOOC Limited, Crude Oil Production in Indonesia, By
Fields 17
4.2 CNOOC Limited, Natural Gas Production 17
4.2.1 CNOOC
Limited, Natural Gas Production in China, By Fields 17
4.2.2 CNOOC
Limited, Natural Gas Production in Indonesia, By Fields 17
5 CNOOC Limited
Pipeline Opeartions 18
5.1 Pipeline Operation, Key Data 18
5.2
Pipeline Operation, Overview 18
5.3 Pipeline Operation, Natural Gas
Pipelines 18
6 CNOOC Limited Refining Operation 19
6.1 Refining
Operation, Overview 19
6.2 Refining Operation, Total Refining Capacity,
2000- 2012 19
7 CNOOC Limited LNG Operation 20
7.1 LNG Operation,
Overview 20
7.2 LNG Operation, Liquefaction 20
7.2.1 LNG Operation,
Liquefaction, Liquefaction Capacity in Indonesia, 2000- 2012 20
7.3 LNG
Operation, Regasification 20
7.3.1 LNG Operation, Regasification,
Liquefaction Capacity in Indonesia, 2000- 2012 20
8 Business Description
22
8.1 Business Overview 22
8.2 Independent Operations 22
8.2.1
Overview 22
8.2.2 Financials 22
8.2.3 Capital Expenditure 22
8.2.4
Key Strategies 22
8.3 Production Sharing Contracts 23
8.3.1 Overview
23
8.3.2 Financials 23
8.3.3 Capital Expenditure 23
8.3.4 Market
View 23
8.3.5 Key Strategies 23
8.4 Trading 23
8.4.1 Overview
23
8.4.2 Financials 24
8.5 Major Products and Services 24
8.5.1
Overview 24
9 History 25
10 Business Strategy 28
10.1 Mission
Statement 28
10.2 Strategy 28
10.3 Corporate Social Responsibility
28
10.3.1 Overview 28
10.3.2 Specific CSR Initiatives 29
11 Value
Chain Analysis 30
11.1 Upstream 30
11.1.1 Overview 30
11.1.2
Financials, Production and Major Projects 31
12 SWOT Analysis 32
12.1
Overview 32
12.2 CNOOC Limited Strengths 32
12.2.1 Strong operations
32
12.2.2 Balanced portfolio 33
12.2.3 Steady Revenue Growth 33
12.3 CNOOC Limited Weaknesses 34
12.3.1 Limited Exposure to International
Markets 34
12.3.2 Poor Resource Management 34
12.4 CNOOC Limited
Opportunities 34
12.4.1 Strategic Partnerships and Projects 34
12.4.2
Growth in Oil and Gas Demand 35
12.4.3 Increasing Demand for Refined
Products 35
12.5 CNOOC Limited Threats 36
12.5.1 Stringent Laws and
Regulations 36
12.5.2 Price Volatility 36
12.5.3 China' s Entry into
WTO 36
12.5.4 Political Instability in Nigeria 37
13 Competitors
38
14 Revenue Analysis 39
14.1 Revenue by Segment 39
15 Financial
and Operational Review 40
15.1 Financial Statements 40
15.2 Financial
Ratios 41
16 Operational Indicators 42
17 Share Holding Structure
43
18 Key Employees 44
19 Key Employee Biographies 45
20 Company
Statement 47
21 Locations And Subsidiaries 51
21.1 Head Office 51
21.2 Other Locations & Subsidiaries 51
22 Financial Deals Landscape 52
22.1 Rumored Deals 52
22.1.1 China National Offshore Oil To Sell Shares In
CNOOC Oil Base 52
22.1.2 CNOOC To Sign Final Contract With Pars Oil and
Gas 53
22.1.3 CNOOC To Acquire Talisman Energy 54
22.2 Acquisition
56
22.2.1 China National Offshore Oil Acquires 80% Stake In Hangzhou
Kangbo Petroleum 56
22.2.2 CNOOC To Acquire 50% Equity Interest In Husky
Oil (Madura) From Husky 57
22.2.3 Husky Energy Forms Partnership With
CNOOC 59
23 Recent Developments 61
23.1 License Awards 61
23.1.1
May 23, 2008: Indonesia Awards Exploration Rights For Five Oil And Gas Blocks
61
23.1.2 May 07, 2008: Bangladesh To Allow Exploration Of Offshore Gas
Fields 61
23.1.3 Apr 15, 2008: Iraq Says Four Chinese Companies Being
Qualified For Oil Contracts 62
23.2 Strategy and Business Expansion 63
23.2.1 May 06, 2008: CPC To Extend Its Joint Venture With CNOOC By Two Years
63
23.2.2 Mar 31, 2008: Woodside Approves North Rankin 2 Project 64
23.2.3 Jan 22, 2008: Guangdong Dapeng To Extend Shenzhen Dapeng LNG Project
65
23.2.4 Jan 22, 2008: CNOOC To Enter Agreement With Iran For LNG Supply
65
23.3 Recent Discoveries 66
23.3.1 Nov 22, 2007: CNOOC Hits 10 New
Discoveries, Offshore China 66
23.3.2 Mar 19, 2007: CNOOC Declares New
Discovery At Bohai Bay 66
23.4 Drilling and Production Updates 67
23.4.1 Jun 24, 2008: CNOOC Starts Production On Xijiang 23-1 Field In South
China 67
23.4.2 May 06, 2008: Anadarko To Drill Exploration Well In China
67
23.4.3 Apr 25, 2008: DNO Provides Operational Update 68
23.4.4 Jan
29, 2008: CNOOC Announces Rapid Production Growth 69
23.5 Financial
Announcements 70
23.5.1 Apr 28, 2008: CNOOC Declares Q1 2008 Results
70
23.5.2 Mar 27, 2008: CNOOC Declares 2007 Results 70
23.6 Other
Significant Developments 71
23.6.1 Jun 23, 2008: Qatargas Enters Into
Agreement With CNOOC 71
23.6.2 Jun 16, 2008: Total And CNOOC Signs MoU To
Supply LNG To China 72
23.6.3 May 07, 2008: CNOOC Says Fujian Terminal
Receives First LNG Cargo From Egypt 73
23.6.4 May 06, 2008: CNOOC To
Invest In Oil And Gas Leases In The US Gulf Of Mexico 73
23.6.5 Apr 25,
2008: China Instructs Oil Producers To Boost Diesel Output 74
23.6.6 Apr
22, 2008: Husky Says Developing Liwan Natural Gas Field May Cost Upto $5
Billion 74
23.6.7 Apr 10, 2008: CNOOC Notifies 17 Oil Blocks For
Exploration With Foreign Companies In 2008 75
23.6.8 Apr 09, 2008: CNOOC' s
First Oil Refinery To Be Completed By October 2008 78
23.6.9 Apr 08, 2008:
CNOOC, Iran LNG Contract Delayed On US Concerns 79
23.7 New Contracts
Announcements 80
23.7.1 Mar 25, 2008: COSL Signs Service Contract Worth
$56 Million 80
23.7.2 Feb 21, 2008: Primeline Announces Petroleum
Extension Contract With CNOOC 80
24 Appendix 81
24.1 Methodology
81
24.1.1 Coverage 81
24.1.2 Secondary Research 82
24.1.3 Primary
Research 82
24.1.4 E&P Forecasts 83
24.1.5 Midstream Forecasts 85
24.1.6 Expert Panel Validation 86
24.2 Contact Us 86
24.3 About Global
Markets Direct 86
24.4 Disclaimer 86
1.1 List of Tables
Table
1: CNOOC Limited, Key Facts, 2007 10
Table 2: CNOOC Limited,
Fields under development 12
Table 3: CNOOC Limited, Number of
Exploration Blocks, by Country, 2000-2007 13
Table 4: CNOOC Limited,
Crude Oil Production (BBls), by Country, 2000-2007 14
Table 5: CNOOC
Limited, Natural Gas Production (MMcf), by Country, 2000-2007 15
Table 6:
CNOOC Limited, Crude Oil Production (BBls) By Fields in China, 2000-2007
16
Table 7: CNOOC Limited, Crude Oil Production (BBls) By Fields in
Indonesia, 2000-2007 17
Table 8: CNOOC Limited, Natural Gas
Production (MMcf), By Fields in China, 2000-2007 17
Table 9: CNOOC
Limited, Natural Gas Production (MMcf), By Fields in Indonesia, 2000-2007
17
Table 10: CNOOC Limited , Pipeline Key Statistics, 2007 18
Table
11: CNOOC Limited, Natural Gas Pipelines, 2007 18
Table 12: CNOOC Limited,
Refining Capacity Country-Wise (MMTPA), 2000-2012 19
Table 13: CNOOC
Limited, Liquefaction Capacity in Indonesia (Million Tonnes), 2000- 2012
20
Table 14: CNOOC Limited, Regasification Capacity in China (Bcf), 2000-
2012 20
Table 15: CNOOC Limited, SWOT Analysis , 2007 32
Table
16: CNOOC Limited, Revenue by Segment, Rmb Thousand, 2003-2007 39
Table 17: CNOOC Limited, Revenue by Geography, Rmb Thousand, 2003-2007
39
Table 18: CNOOC Limited, Financial Statements, Rmb Thousand,
2003-2007 40
Table 19: CNOOC Limited, Financial Ratios, Rmb Thousand,
2003-2007 41
Table 20: CNOOC Limited Operational Indicators,
2003-2007 42
Table 21: CNOOC Limited, Share Holding Structure 43
Table 22: CNOOC Limited, Key Employees, 2007 44
Table 23: CNOOC
Limited, Other Locations 51
Table 24: Brent Blend NYMEX Future Prices
85
1.2 List of Figures
Figure 1: CNOOC Limited, Number of
Exploration Blocks, by Country, 2000-2007 13
Figure 2: CNOOC Limited,
Crude Oil Production (BBls), by Country, 2000-2007 14
Figure 3: CNOOC
Limited, Natural Gas Production (MMcf), by Country, 2000-2007 15
Figure 4:
CNOOC Limited, Value Chain Analysis 30
Figure 5: Global Markets
Direct Methodology 81
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