CNOOC Ltd.

Overview

Date Founded

1999

Headquarters

65th Floor, Bank of China Tower,1 Garden Road,Hong Kong

Type of Company

Public

Employees (Worldwide)

18.7K

Industries

Oil & Gas
Holding Companies

Company Description

CNOOC Limited (the “Company”, together with its subsidiaries, the “Group” or “we”), incorporated in Hong Kong Special Administration Region (“Hong Kong”) in August 1999, was listed on the New York Stock Exchange (code: CEO) and The Stock Exchange of Hong Kong Limited (code: 00883) on 27 and 28 February 2001, respectively. The Company was admitted as a constituent stock of the Hang Seng Index in July 2001. The Group is China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sales of oil and natural gas. The Group’s core operation areas are Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. In overseas, the Group has oil and gas assets in Asia, Africa, North America, South America and Oceania. As of 31 December 2011, the Group owned net proved reserves of approximately 3.19 billion BOE, and its average daily net production was 909,000 BOE (except as otherwise stated, all amounts of reserve and production in this report include our interests in equity method investees). The Group had 5,377 employees and total assets of approximately RMB384.26 billion.

Website

http://www.cnoocltd.com

Contact Data

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In The News

SNL Energy Finance Daily

January 26, 2021

Hess to allocate $1.9B for 2021 exploratory, production budget

PR Newswire

January 12, 2021

The World's Next Giant Oil Discovery Could Be Here; FN Media Group Presents Oilprice.com Market Commentary

Nasdaq

December 14, 2020

CNOOC starts production at Penglai 25-6 oilfield in Bohai Sea

Nasdaq

December 11, 2020

Covanta Holding's (CVA) Steady Investments to Boost Portfolio

Business Wire

December 10, 2020

AM Best Affirms Credit Ratings of ICM Assurance Ltd

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Executives & Employees

Ke Qiang Xu

Chief Executive Officer & Executive Director

Hu Guangjie

President & Executive Director

Chiu Sung Hong

Executive Director

Aloysius Tse Hau Yin

Executive Director

Lv Bo

Executive Director

Xie Weizhi

Chief Financial Officer

Xiaonan Wu

Joint Company Secretary, General Counsel & Compliance Officer

Yunshi Cao

Secretary, Senior Vice President & General Counsel

Jian Liu

Vice President

Zhang Guohua

General Manager, CNOOC China Limited Zhanjiang Branch

Board of Directors

Dong Jin Wang

Chairman at China National Offshore Oil Corp.

Yong Li

President & Director at China National Offshore Oil Corp.

Lawrence Juen-Yee Lau

Managing Director, Independent Director at Far EasTone Telecommunications Co., Ltd.

Aloysius Tse Hau Yin

Executive Director at CNOOC Ltd.

Qiu Zhi Zhong

Chairman, Greater China at Barclays Capital, Inc.

Chiu Sung Hong

Executive Director at CNOOC Ltd.

Wen Dongfen

Former Chief Financial Officer at China Petroleum & Chemical Corporation

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CNOOC Ltd.

Owners & Shareholders

Details Hidden

Hang Seng Investment Management Ltd.

HSVM is a passive investor that manages index-tracking funds, investing in substantially the same weightings as the stocks have in their respective indexes. The firm typically invests in stocks, bonds and money market instruments.

Details Hidden

State Street Global Advisors Asia Ltd.

SSgA-Asia uses various methods of analysis as necessary for the respective strategy including quantitative, fundamental, technical, cyclical, indexing and charting. The investment strategies deployed are active and indexed equity, private equity and multi-asset class solutions (asset allocation). The firm is a research-driven, index-oriented equity manager which specializes in developed and emerging Asian markets, and relies primarily on computerized analysis.

Details Hidden

Ping An of China Asset Management (Hong Kong) Co., Ltd.

PAAMC-HK is an active, team-based manager which believes that market inefficiencies provide opportunities for active investment management to produce significant alpha in China/Hong Kong markets. The firm also believes that macro analysis is a key driver of returns and performs quantitative analysis to provide a variety of investment solutions including asset allocation, equity portfolio management, fixed-income and money market portfolio management, quant portfolio, ETF management, funds of fund management and external advisory. They also manage listed exchange traded funds and unit trusts.

Recent Transactions

Details Hidden

CNOOC Ltd., CNOOC China Ltd. purchase China United Coalbed Methane Corp. Ltd. from China National Offshore Oil Corp.

Details Hidden

CNOOC Ltd. purchases Arktik SPG 2 LLC from NOVATEK JSC

Details Hidden

PT Pertamina (Persero), PT Pertamina Hulu Energi purchase Cnooc Ses Ltd. /SES Oil & Gas Block from CNOOC Ltd.

Transaction Advisors

Accountant

Ernst & Young LLP

Advised onCNOOC Ltd. purchases South Atlantic Petroleum Ltd. /Nigerian Oil Mining Bus from South Atlantic Petroleum Ltd.

Selling Group Member

ABN AMRO Bank NV (London Branch) (Broker) (Old)

Advised onCNOOC Ltd. issued USD American Depositary Shares (ADS)

Selling Group Member

APEX Securities Co. Ltd.

Advised onCNOOC Ltd. issued USD American Depositary Shares (ADS)

Legal Advisor

Adolfo Duranona

Advised onCNOOC Ltd. purchases BC Energy Investments Corp. from Bridas Energy Holdings Ltd.

Legal Advisor

Alan P. Larson

Advised onCNOOC Ltd. purchases CNOOC Petroleum North America ULC

Legal Advisor

Andrea Boctor

Advised onCNOOC Ltd. purchases CNOOC Petroleum North America ULC

Advisors & Consultants

Legal Advisor

George R. Bason, Jr.

Partner at Davis Polk & Wardwell LLP

Legal Advisor

Thomas J. Egan, Jr.

Partner at Baker & McKenzie LLP

Legal Advisor

Ronan P. Harty

Partner at Davis Polk & Wardwell LLP

Clients

Marathon Petroleum Corp.

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 16 refineries and over 3 million barrels per day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company which owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.

CLP Holdings Ltd.

CLP Holdings Ltd. is an investment holding company, which engages in the generation and supply of electricity. It operates through the following geographical segments: Hong Kong, Mainland China, India, Southeast Asia and Taiwan, and Australia. It offers retail services in Hong Kong and Australia. The company was founded on October 24, 1997 and is headquartered in Hong Kong.

ENN Natural Gas Co., Ltd.

Veyong has been involved in the field of pesticides for more than 50 years. It is the first manufacturer of Diflubenzuron(1992), Imidacloprid(1994) and the leader manufacturer of Abamectin(1995) in China. It is the largest manufacturer of Abamectin, Emamectin Benzoate and Diflubenzuron in China. It is the first producer of Diflubenzuron and Imidacloprid in China. It is the drafter of National Standard and the only official supplier of Abamectin Analytical Standard appointed by the State Ministry of Agriculture. Veyong has clear development strategy and strong R&D strength. It has been focusing on bio-pesticides and bio-veterinary. It has different product types of bio-pesticides and bio-veterinary. It is proceeding with research work on herbicides and fungicides. Veyong has been devoted to become the biggest bio-pesticides manufacturer and the most valuable pesticides and veterinary brand enterprise in the world.

Key Stats and Financials As of 2019

Market Capitalization

$57.9B

Total Enterprise Value

$72.8B

Earnings Per Share

$0.2

Revenue

$33.6B

Debt TEV

0.31x

TEVNet Income

8.23x

Enterprise Value EBITDAOperating

3.37x

Enterprise Value / Sales

2.16x

EBITDAMargin

64.12%

Three Year Compounded Annual Growth Rate Of Revenue

15.43%

Net Profit

$8.84B

EBITDA

$21.6B

Total Debt

$22.5B

Total Equity

$64B

Investments

Details Hidden

MEG Energy Corp.

MEG Energy Corp. engages in the production of in situ thermal oil. Its projects include Cristina Lake and Surmont.,The company was founded by William J. McCaffrey, Steve Turner, and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.

Suppliers

BP Plc Power & Utilities | Plano, IL

BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing and marketing and trade of natural gas, including liquefied natural gas and power and natural gas liquids. The Downstream segment refines, manufactures, markets, transports, supplies, and trades crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. The Rosneft segment engages in investment activities. The company was founded by William Knox D'Arcy on April 14, 1909 and is headquartered in London, the United Kingdom.

Federal International (2000) Ltd. Aerospace & Defense | Singapore, Sgp

Federal International (2000) Ltd. is a holding company, which engages in the research, development, design, manufacture, and trade of flowline control products and services and oil and gas equipment. It operates through the following segments: Trading, Manufacturing/Design/Research and Development, Marine Logistics, Energy and Utilities, Resources, and Corporate and Others. The Trading segment supplies assembly and distribution of flowline control products. The Manufacturing/Design/Research and Development segment offers the research, development, design and manufacture of flowline control products and high pressure and temperature valves and related oilfield products. The Marine segment charters vessels to the offshore oil and gas and other related industries. The Energy and Utilities segment provides procurement and construction projects; and electricity, steam, condensate, liquefied natural gas and compressed natural gas. The Resources segment sells and mines coal and other natural resources. The Corporate and Others segment includes group-level corporate services and treasury functions. The company was founded by Kian Kiong Koh in 1974 and is headquartered in Singapore.

Vallourec Tianda (Anhui) Co. Ltd. Wholesale: Industrial Products & Manufacturing | Chuzhou City, China

Vallourec Tianda (Anhui) Co. Ltd. engages in the design, manufacture and trade of seamless pipes for the oil and natural gas industries. The firm’s products include offers oil well pipes, oil gas pipes, boiler pipes, air bottle pipes, ship pipes, car and structure and special pipes. The company was founded by Ye Shi Qu in 1993 and is headquartered in Tianchang, China.

Competitors

PetroChina Company Limited Oil & Gas - Beijing, Chn

PetroChina Co. Ltd. engages in the petroleum related products, services and activities. It operates through the following business segments: Exploration and Production; Refining and Chemicals; Marketing; Natural Gas and Pipeline; and Head Office and Other. The Exploration and Production segment involves exploration, development, production, and marketing of crude oil and natural gas. The Refining and Chemicals segment focuses on the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative petrochemical products, and other chemical products. The Marketing segment includes marketing of refined products and the trading business. The Natural Gas and Pipeline segment comprises transmission of natural gas, crude oil, and refined products and the sale of natural gas. The Head Office and Other segment relates to cash management and financing activities, the corporate center, research and development, and other business services supporting the operating business segments of the Group. The company was founded on November 5, 1999 and is headquartered in Beijing, China.

China Petroleum & Chemical Corporation Oil & Gas - Beijing, China

China Petroleum & Chemical Corp. engages in the exploration, development and production of crude oil and natural gas. It operates through the following segments: Exploration and Production; Refining; Marketing and Distribution; Chemicals; and Corporate and Others. The Exploration and Production segment consists of activities related to exploring for and developing, producing, and selling crude oil and natural gas. The Refining segment purchases crude oil from its exploration and production segment and from third parties, processing of crude oil into refined oil products, and selling refined oil products principally to its marketing and distribution segment. The Marketing and Distribution segment includes refined oil products from its refining segment and third parties, and marketing, selling and distributing refined oil products by wholesale to large customers and independent distributors, and retail through its retail network. The Chemicals segment focuses on chemical feedstock principally from the refining segment and producing, marketing, selling, and distributing chemical product. The Corporate and Others segment comprises of trading activities of the import and export subsidiaries, and its research and development activities. The company was founded on February 25, 2000 and is headquartered in Beijing, China.

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