Chinese oil and gas giant CNOOC Limited has revealed its 2022 Business Strategy and Development Plan, which includes plans to increase oil and gas production in the next three years while advocating for and encouraging green energy transition initiatives.
CNOOC on Tuesday revealed a summary of its business strategy and development plan for the year 2022, explaining that its targeted net production for 2022 is 600 million to 610 million barrels of oil equivalent (BOE), of which, production from China and overseas will account for approximately 69 per cent and 31 per cent, respectively.
Xu Keqiang, CEO of CNOOC, remarked: “In 2022, we will continue to give priority to profit generation, strive to increase oil and gas reserves and production and promote the green energy transition initiatives.”
It is worth reminding that CNOOC launched the country's
first offshore carbon capture and storage (CCS) project in the South China Sea last year in August to pursue energy transition goals and reach its net-zero targets.
Source: Offshore Energy
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