le block. The Buzzard oilfield is one of the largest oilfields in the North Sea. Other Regions in Europe: The company holds a license issued by the government of Iceland for carrying out oil exploration operations in the Norwegian Sea in Northeastern Iceland. Business Strategy The company intends to continue expanding its oil and gas exploration and production activities. The principal components of its strategy are as follows: focusing on reserve and production growth; developing natural gas business; and maintaining prudent financial policy. Sales and Marketing The company sells its crude oil produced in offshore China to the People’s Republic of China (PRC) market mainly through CNOOC China Limited, its wholly owned subsidiary. The company sells its crude oil produced overseas to international and domestic markets mainly through China Offshore Oil (Singapore) International Pte Ltd, also its wholly owned subsidiary; and Nexen Energy ULC, a wholly-owned subsidiary of the company in Canada, sells its crude oil and synthetic oil to international markets on its own. Customers The company’s major customers in China are Sinopec, PetroChina and CNOOC. Its natural gas customers are primarily located in the south- eastern coast of China, including Hong Kong Castle Peak Power Company Limited, CNOOC Gas and Power Group, and China BlueChemical Ltd. Patents and Trademarks The company owns or has licenses to use two trademarks which are of value in the conduct of business. CNOOC is the owner of the two trademarks. Under two non-exclusive license agreements between CNOOC and the company, the company has obtained the right to use the two trademarks for a nominal consideration. History CNOOC Limited was incorporated with limited liability in 1999 in Hong Kong.
cnooc ltd (883:Hong Kong)
Bank of China Tower
1 Garden Road
Phone: 852 2213 2500
Fax: 852 2525 9322www.cnoocltd.com
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