CNOOC Limited Announces Key Operational Statistics for Q1 2017

Apr. 27, 2017 08:44AM PST

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the first quarter of 2017. As quoted in the press release: For the first quarter of the year, the Company achieved total net production of 119.1 million barrels of oil equivalent (“BOE”), representing a decrease of 4.2% year-on-year …

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the first quarter of 2017.
As quoted in the press release:

For the first quarter of the year, the Company achieved total net production of 119.1 million barrels of oil equivalent (“BOE”), representing a decrease of 4.2% year-on-year (“YoY”), mainly due to the natural decline of the producing oil and gas fields.
Mr. Yuan Guangyu, CEO of the Company, said, “Despite the continued challenging market conditions, the Company has maintained smooth production and operations during the first quarter of the year. We will continue to enhance quality and efficiency, pursue quality growth, and increase profitability-oriented production volume.”

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