久久久91精品国产一区二区三区|亚洲中文无码卡通动漫|国产AV国片精品无套内谢无码|国产99久久久国产精品电影|

CNOOC Ltd (CEO) recently came up with its business strategy and development plans for 2012. The company targets net production in the range of 330 to 340 million barrels of oil equivalent (boe) for 2012 compared to the range of 331 to 332 million boe projected for 2011.

CNOOC expects four new projects in offshore China to be commissioned in 2012. Among these, production from one of the adjustment projects at Panyu 4-2/5-1 is expected to hit the 57 thousand barrels per day mark by 2014, representing the significant potential of the firm's producing fields. With more such adjustment fields expected to come online in offshore China in the coming years, we believe this will act as a key growth driver for the company's future production.

Internationally, CNOOC has projects in Canada - Long Lake oil sands project and Iraq - Missan oilfield, which are expected to contribute significantly to total production. Currently, forming the base of the company's mid to long-term development strategy, there are 16 projects under construction. With such producing fields under its wings, CNOOC has immense potential for growth.

With respect to exploration, CNOOC plans to expand its independent deepwater exploration into new regions. In a bid to achieve the target, the company plans to drill an aggregate of 114 exploration wells comprising 3 independent deepwater wells in South China Sea. The company also plans to obtain seismic data for 18,300 kilometers 2-Dimensional (2D) seismic data and 19,200 square kilometers 3-Dimensional (3D). CNOOC is aiming to exceed reserve replacement ratio (RRR) over 100% in 2012.

CNOOC expects total capital expenditure (capex) for 2012 to reach $9.3-11.0 billion, of which capex for exploration, development and production are projected around 17%, 68% and 14% respectively. This capex is expected to maintain growth and hasten the exploration and development of deepwater and unconventional energy.

CNOOC maintains its CAGR on production growth from 2011-2015 at 6-10% and plans to attain this target by regional development, adjustments in producing oilfields in offshore China and pushing for deepwater exploration and development.

CNOOC holds a Zacks #3 Rank, which translates into a Hold rating for a period of one to three months. For the long term we maintain a Neutral recommendation on the stock. The company faces considerable threat from its competitor China Petroleum & Chemical Corp (SNP).