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(Hong Kong, March 27, 2008)CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”, SEHK “883”) announced today its annual results for the 12 months ended December 31, 2007.
Last year, our total revenues, net profits and net production all increased steadily. The total revenue of the Company amounted to RMB 90.72 billion. Net income hit a historical high of RMB 31.26 billion, representing a year on year (yoy) increase of 1.1%. Earnings per share reached RMB 0.72.
In 2007, the net oil and gas production of the Company exceeded expectations, increasing by 2.6% to 171 mm BOE, among which the net production from offshore China was 149 million BOE.
Benefiting from the stable growth of oil and gas production, together with rise in average realized oil prices, the Company generated revenue of RMB 73 billion from oil and gas sales, a yoy increase of 7.7%. Our average realized oil and gas price reached US$66.26 per barrel and US$3.30 per thousand cubic feet, up 12.5% and 8.7% from last year respectively.
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, Jun 21,2008,07:57 