Company Report

CNOOC corporate report

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Report summary

Aggressive cost cutting and financial prudence enabled CNOOC Ltd to survive at a US$50/bbl oil price. But as the external environment has stabilised, the company's strategic focus is increasingly turning towards growth in a 'lower-for-longer' world. Spending is set to rebound and management has also made a number of counter-cyclical moves that improve the medium to longer-term growth outlook. CNOOC Ltd has successfully captured a number of world-class business opportunities in Latin America and Africa, building on its offshore expertise and strong exploration credentials.

What's included

This report contains

  • Document

    CNOOC Ltd Corporate Report.xls

    XLS 3.59 MB

  • Document

    CNOOC corporate report

    PDF 1.14 MB

  • Document

    CNOOC corporate report

    ZIP 1.97 MB

Table of contents

Tables and charts

This report includes 38 images and tables including:

Tables

  • Executive summary: Table 1
  • Key assets
  • Base price assumptions (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Valuation assumptions
  • Foreign exchange rate assumptions

Images

  • Upstream EV vs. Upstream NPV10
  • Upstream portfolio sensitivities vs. Upstream EV
  • Forecast development expenditure (nominal)
  • Investment: Image 2
  • Reported and unit development costs
  • New Project Returns
  • Reported and WM forecast production
  • Liquid vs. Gas
  • Liquid Production
  • Gas Production
  • Total reserves: Wood Mackenzie commercial
  • Total reserves: reported vs. Wood Mackenzie
  • Total reserves: reported vs. Wood Mackenzie
  • Reserve life: reported vs. Wood Mackenzie
  • Base price assumptions (nominal terms)
  • Economic assumptions: Image 2
  • Base, high and low Brent (nominal terms)
  • Relative share price performance
  • Benchmark: market premium / discount to WM NPV,10
  • Strategic fit of upstream regions
  • Evolution of upstream NPV,10
  • Benchmark: domestic production declines
  • CNOOC Ltd's domestic assets
  • International production by country
  • International capital investment by country
  • WM estimates of resource additions (2011-2016)
  • Strategy: Image 10
  • Breakdown of upstream cash flow by country
  • Evolution of year-end net debt (CNOOC Ltd)
  • Benchmark: net active exploration acreage
  • Benchmark: exploration value creation by theme and basin maturity (2012-2016) - Top 10 Performers

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