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Company Overview

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 2013, the Company's rankings in the Fortune Global 500 rose to 93. In 2012, our position in Petroleum Intelligence Weekly's World Top 50 Oil Companies rose to 33rd. Standard & Poor's and Moody's continue to rate the Company with creditratings of AA- and Aa3, the highest for a Chinese corporation.

Headquartered in Beijing, CNOOC has, since our founding in 1982, maintained strong growth momentum, evolving from apurely upstream oil and gas exploration company to an international energy company with promising primarybusinesses and a complete industrial chain.

Throughout our development in line with the Second Leap Forward Programme, we have been transforming our business model and adjusting the industry structure. Now, our business covers the main segments of oil & gas exploration and development; refining and gas &power generation; engineering technical and professional services; alternative energies and financial services.

In 2012, the Company's operating revenue reached 526.6 billion RMB, and total profit reached 105 billion RMB. Total assets at the end of the year reached 818.1 billion RMB and net assets reached 520.4 billion RMB.

In order to create favourable premisesfor China's offshore oil industry to make the full Second Leap Forward, we have been operating soundly whileaddressing and tackling any issues or challenges coming our way and grasping a firm hold on the currentindustrial development trends and opportunities.