CNOOC to step up deep-water exploration activities

China National Offshore Oil Corp, the nation's largest producer of offshore oil and gas, will focus on the Guangdong-Hong Kong-Macao Greater Bay Area for future oil and gas exploration, as it aims to step up the development and construction of China's first deep-water exploration well in the region which has natural gas reserves in excess of 100 billion cubic meters.

The company will also develop a deepwater oilfield complex in the next few years and aims to double its exploration workload and proven reserves by 2025.

The company will further explore resource potential by improving its offshore gas transmission pipeline network and optimizing the energy mix to safeguard China's energy security and gas field construction in the area, said CNOOC Chairman Yang Hua.