China National Offshore Oil Corporation ("CNOOC"), the largest offshore oil and gas producer in China, is a mega government owned company operating directly under the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China. In 2012, the Company's rankings in the Fortune Global 500 rose to 101st.
Headquartered in Beijing, CNOOC employed approximately 98,750 people for all business. It has, since its incorporation in 1982, maintained strong growth momentum, evolving from a purely upstream oil and gas exploration outfit to an integrated group of energy-related companies with promising primary businesses and a complete industrial chain. The six main business segments of the Company are oil & gas exploration and development; professional technical services; refining,sales and fertilisers; natural gas and power generation; financial services and alternative energy resources.
In 2011, all major performance indicators of CNOOC have reached record high, kicked off a great start of the 12th Five-Year Plan. Annual revenue reached 488.2 billion RMB. Annual profit reached 112.3 billion RMB, surpassing 100 billion for the first time. EVA reached 62.7 billion RMB, and total assets at the end of the year reached 718.5 billion RMB.
With development revolved around the Second Leap programme, the Company has been operating steadily and soundly while addressing and tackling any challenges along the way and grasping a firm hold on the current industrial development opportunities. This has enabled us to get a significant head start in the 12th Five-Year Plan and, at the same time, created favourable conditions for China's offshore oil industry to make the next full "leap forward".