The words"expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements.
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. In order to share our outstanding results with shareholders, the board has declared an interim dividend of HK$0.25 per share (tax inclusive). For the second half of the year, we will continue to enhance our businesses in a meticulous and conscientious manner.” In the first half of the year, the Company’s basic earnings per share reached RMB0.77. Li Fanrong, CEO of the Company commented, “During the first half of the year, the Company has made smooth progress in the areas of exploration, development and production as well as overseas development, maintaining a sound financial position and satisfactory results in all areas of our business. While identifying what we have achieved, we will continue to strengthen risk management and control, technological and management innovation as well as building a talented team in order to raise our core competitiveness and capability for sustainable development, all working toward an even brighter future for the Company.” Wang Yilin, Chairman of the Company commented, “During the first half of 2013, the Company achieved good performance in all aspects. Meanwhile, we are working diligently towards getting the Company listed at Toronto Stock Exchange (TSX).
The integration work after the transaction has made impressive progress.
In the area of overseas, the Company has completed the acquisition of Nexen on 26 February. In the meanwhile, the new discovery of Kenli 10-4 uncovers the new area of oil and gas exploration in the north slope of Laizhou bay sag. The discovery of Bozhong 8-4 indicated an important breakthrough of Neogene from uplift to sag and created a new exploration area in the west slope of Bozhong sag. In the area of exploration, the Company made 7 new discoveries and 18 successful appraisal wells in offshore China. Taking out Nexen’s impact, the all-in cost would be US$37.81 per BOE, representing an increase of 9.3% YOY. The Company’s all-in cost increased 22.4% YOY to US$42.36 per BOE, primarily due to the acquisition of Nexen. Affected by the lower realized natural gas price of Nexen, the Company’s average realized natural gas price declined 3.7% YOY to US$5.68 per thousand cubic feet.īenefited from the rising net oil and gas production, the oil and gas sales and net profit of the Company reached RMB110.8 billion and RMB34.4 billion, representing an increase of 15.8% and 7.9% YOY respectively. Mainly attributed to the reduced price of the fuel oil and petroleum product in the Far East, the Company’s average realized oil price dropped to US$104.20 per barrel, representing a decrease of 10.9% YOY. Without Nexen’s production output, the production growth was 7.7%. (Hong Kong, August 20, 2013) - CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883) today announced its interim results ended June 30, 2013.įor the first half of the year, the Company’s total net oil and gas production rose 23.1% year-on-year (YOY) to 198.1 million barrels of oil equivalent (BOE), in which Nexen contributed 24.8 million BOE.
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