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   China National Offshore Oil Corp.
Company Description
China National Offshore Oil Corporation (CNOOC) is a state-owned company incorporated on February 15, 1982. CNOOC is authorized under the Regulations of the Peopleˇ¦s Republic of China on Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises, to assume exclusive rights and overall responsibilities for the exploitation of oil and natural gas resources offshore China in cooperation with foreign partners. Headquartered in Beijing, CNOOC registered with a capital of 50 billion RMB and has 21,000 employees.
CNOOC is a state-authorized investment institution delegated to exercise rights on its fully-owned, majority-held and shareholding subsidiaries, including adding value to state-owned assets, making major decisions and recommending and nominating management teams. It operates, manages and oversees the delegated state-owned assets and bears corresponding value increment responsibilities.
CNOOC has realized fast and quality growth over the past twenty years. Its annual production soared from 90,000 tons of oil equivalent to 23.29 million tons, with sales increasing from 400 million RMB to 37.6 billion RMB and net profit from 40 million RMB to 11 billion RMB. Its total assets increased dramatically from 2.8 billion RMB to 88.8billion RMB and net assets from 2.2 billion RMB to 50.1 billion RMB. CNOOC has paid cumulative taxes of 11.8 billion RMB to the government. It has been one of the top key state-owned enterprises (SOEs) in China in terms of operating results over the past three consecutive years.

Product Description
By July31,1999,CNOOC has signed with68oil companies from18countries and regions a total

Business Type :   Manufacturer
Address :   P.O.Box 4705, No.6, Dongzhimenwai Xiaojie Beijing
City & Country :   China
Tel No. :   010-84521044
Fax no. :   010-84521044
Website :   http://www.cnooc.com.cn
e-Mail :   Click here to contact us

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