China National Offshore Oil Corporation (CNOOC) is planning to drill 115 exploration wells, acquire approximately 10 thousand kilometres of 2D seismic data as well as approximately 14 thousand square kilometres 3D seismic data this year, the company said in its 2016 business strategy.
The company said it has targeted to produce 470m to 485m barrels of oil (BOE) in 2016, slightly down from the 495m BOE it produced in 2015, with production from China and overseas accounting for 66% and 34% respectively,
CNOOC will have four new projects come on stream in 2016 and it currently has 20 projects under construction.
