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CNOOC Limited Achieves Historic Milestones in Oil and Gas Production in 2025

In the landscape of global energy, CNOOC Limited has made headlines with its impressive annual results for the fiscal year ending December 31, 2025. The Hong Kong-listed company has showcased extraordinary improvements in both its production volumes and reserves, setting new benchmarks in the oil and gas sector.

Record Production and Financial Overview

CNOOC Limited reported a substantial increase in its net production, achieving approximately 2.13 million barrels of oil equivalent (BOE) daily. In terms of profitability, the net income attributable to shareholders soared to 122.1 billion RMB, with a commendable dividend payout ratio of 45%. This translates to an annual dividend of 1.28 HK$ per share, reinforcing the company’s commitment to its investors amidst challenging market dynamics.

The past five years have seen CNOOC pursuing a strategic growth path aimed at consistently boosting production while maintaining strict cost controls, solidifying its competitive edge in profitability and operational resilience. In 2025 alone, the company recorded six new discoveries and achieved a compound annual growth rate (CAGR) of approximately 8% in net production.

Technology and Productivity Advancements

Not resting on its laurels, CNOOC also made strides in technology, which played a pivotal role in bolstering its production capabilities. The company applied advanced geophysical exploration techniques that improved deep seismic data quality, leading to the discovery of the Huizhou 19-6 oilfield with proven in-situ reserves exceeding 100 million tons. Daily offshore drilling efficiency in China reached a five-year high, showcasing significant enhancements in operational productivity.

In total, the company evaluated 28 productive oil and gas structures and identified its net proven reserves, which saw an increase to 7.77 billion BOE, marking a year-on-year rise of 6.9%. Noteworthy discoveries in regions within China, such as Longkou 25-1, along with successful evaluations of fields overseas in countries like Guyana, have diversified and enhanced CNOOC’s asset portfolio.

Sustainable Growth and Community Initiatives

CNOOC's commitment goes beyond merely boosting production; the company incorporates sustainability into its operational strategy. For instance, in 2025, it expanded initiatives focused on green energy development, significantly increasing electricity consumption from renewable sources. Environmental stewardship was also evident through efforts that reduced carbon emissions by 680,000 tons.

Moreover, CNOOC activated various philanthropic activities aimed at enhancing rural revitalization, educational equity, and environmental conservation. These initiatives not only reflect the company’s dedication to social responsibility but also spotlight its reputation as a top employer, which has garnered numerous awards.

Outlook for 2026

Looking ahead, CNOOC Limited has set its sights firmly on further enhancing its production and reserves. The operational goals for 2026 involve maintaining an annual production in the range of 780-800 million BE. To support this growth trajectory, the company has earmarked a substantial investment budget ranging between 112 billion and 122 billion RMB.

President Zhang Chuanjiang emphasized the focus on bolstering the company’s development foundations through increased reserves and production in the energy sector, underlining their commitment to continuous innovation and international growth while pursuing a low-carbon transition.

In summary, CNOOC Limited’s 2025 performance highlights its unwavering commitment to operational excellence, technological advancement, and corporate social responsibility. The record achievements and future aspirations position CNOOC as a formidable player in the global energy market.