CNOOC reports record high H1 production

China National Offshore Oil Corporation, the country's top offshore oil and gas producer, achieved record highs in multiple operational and financial indicators during the first half of 2026, navigating a complex global landscape and volatile international oil prices.

The company's net production reached 398.7 million barrels of oil equivalent in the Jan-June period, representing a year-on-year increase of 3.7 percent, the company said.

Notably, CNOOC realized steady production growth across both its domestic and overseas markets. Backed by this robust output, the company's oil and gas sales revenue surged 20 percent year-on-year to hit 206.1 billion yuan ($30.67 billion) during the first six months.

Beyond its core fossil fuel operations, the offshore oil giant has steadily advanced its green and low-carbon transition, emphasizing clean oil and gas production.

A major milestone was recently reached with the grid connection of Haiyou Anlan, China's first tension-leg floating wind power platform. The facility is expected to supply 54 million kilowatt-hours of green electricity annually to directly power offshore oilfield operations.

Looking ahead, the company stated it remains on track to meet its full-year production target of 780 to 800 million BOE.

Zhang Chuanjiang, chairman of CNOOC, said the company will continue to focus on increasing reserves and ramping up production in the second half of the year.

"We will deepen our breakthroughs in core technologies, steadily expand our footprint in the new energy sector, and deeply tap into our potential for quality and efficiency improvements," Zhang said.

"We will strive to successfully complete our annual production and operational tasks, rewarding all our shareholders with excellent business results."