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Company Overview

China National Offshore Oil Corporation ("CNOOC"), the largest offshore oil & gas producer in China, is a state-owned company operating directly under the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China. Headquartered in Beijing, founded in 1982, CNOOC has evolved from an upstream oil & gas company to an international energy company with promising core businesses and a complete industrial chain.

Now, CNOOC businesses cover the main segments of oil & gas exploration and development, engineering & technical services, refining and marketing, natural gas and power generation, and financial services.

In 2013, the company's overseas businesses covered more than 40 countries and regions, with overseas assets proportion up to 40%, overseas revenue proportion up to 30% and localization rate of overseas employees up to 82%.

In 2014, CNOOC's ranking in the Fortune Global 500 rose to 79, which was 14 higher than that in 2013. Standard & Poor's and Moody's continue to rate the company with credit ratings of AA- and Aa3, the highest for a Chinese corporation.

Keeping in line with the Second Leap Forward Development Programme, CNOOC will continue to focus on the transformation of economic development pattern, the industry structural adjustment and the improvement of development quality and efficiency.