Cnooc’s expansion seems focused on Chinese assets
Cnooc expands production
Chinese state-controlled firm continues to bring new fields online to lift output
Cnooc, one of China’s so-called ‘big three’ energy firms, has started production ahead of schedule at its 100pc-owned Luda 6-2 oilfield in Liaodong Bay in the Bohai Sea. Luda 6-2 is scheduled to reach its peak production of 10,000bl/d next year and uses the existing infrastructure of Cnooc’s Suizhong 36-1 oilfield. Earlier this month, Cnooc also started production ahead of schedule at Liuhua 21-2, another 100pc-owned field in deep waters in the eastern South China Sea. Output from Liuhua 21-2 is expected to peak at around 15,070bl/d in 2023. The NOC is in the process of expanding its upstream activities, particularly offshore and onshore within China. Cnooc’s combined oil and gas production
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
