CNOOC ma tablet machines ps out 2009 development plan
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CNOOC maps out 2009 development planPublished: 10 Feb 2009 00:00:00 PST

Feb. 10, 2009 (China Knowledge) - CNOOC Ltd<883><CEO>, a subsidiary of the country's largest offshore oil company, China National Offshore Oil Group (CNOOC), unveiled its 2009 development plan recently, sources reported.

It is estimated that the company's capital expenditure for 2009 will reach US$6.76 billion, a 19% year-on-year increase.

The company will have 10 oil and gas projects in operation by the end of the year, and will begin another 20 exploration projects. CNOOC will also deploy 80 wells in China's waters.

The company's investment budgets for exploration, development and production may reach US$1.11 billion, US$4.38 billion and US$1.12 billion, respectively.

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