Company report

CNOOC corporate report

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Report summary

Lower oil prices have forced CNOOC Ltd to redefine its strategy. Aggressive cost cutting has been a dominant feature. International business development has been put on ice with a shift in strategic focus towards organically generated opportunities. Butsustained production declines are a very real risk without a new investment phase.

What's included

This report contains

  • Document

    CNOOC corporate report

    PDF 868.26 KB

  • Document

    CNOOC corporate report

    ZIP 1.70 MB

  • Document

    CNOOC Corporate Report.xls

    XLS 3.39 MB

Table of contents

  • Executive summary
  • Strategy
  • Valuation
  • Financial health
  • Resources, reserves and production
  • Portfolio summary
  • Economic assumptions

Tables and charts

This report includes 21 images and tables including:

Images

  • Post oil price crash relative share price performance
  • Evolution of market premium/discount to WM base-case
  • Upstream Portfolio Analysis by country/province
  • Country distribution of international assets with NPV, 10 < US$300 million
  • Benchmark: top players on WM reserve replacement through exploration 2014-15
  • Benchmark: net deepwater acreage by status
  • Evolution of year-end net debt (CNOOC Ltd)
  • Breakdown of Brent price needed to achieve cash flow neutrality
  • CNOOC Ltd: reported and forecast production
  • Benchmark: production CAGR
  • Benchmark: resource breakdown
  • Benchmark: WM reserves life
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)

Tables

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

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