CNOOC Announces Half-year Results

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Last updated at: (Beijing Time) Friday, July 18, 2003

CNOOC Announces Half-year Results

China National Offshore Oil Corporation (CNOOC) reported total sales of 20.85 billion yuan and profits of 7.75 billion yuan for the first half of 2003.

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China National Offshore Oil Corporation (CNOOC) reported total sales of 20.85 billion yuan and profits of 7.75 billion yuan for the first half of 2003.

CNOOC and its foreign partners produced about 109.8 million barrels of crude oil and 3.53 billion cubic meters of natural gas in China's offshore production fields.

CNOOC also announced total assets exceeding the 100 billion yuan mark to reach 107.4 billion yuan in the first half year. The company expects its assets to double in the next five years to make it a medium-size oil company by international standards.

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