CNOOC Limited Announces Exciting New Exploration Project

Author: Dylan Bailey Updated: 06-24-2025 04:39 AM

CNOOC Limited Signs Important EPC Contract

CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) has made a significant advancement with its wholly-owned subsidiary, CNOOC Hong Kong Holding Limited. This new development involves signing a Contract for Exploration and Production of Hydrocarbons (EPC) in the Zhylyoi Subsoil Area, which has been strategically negotiated with relevant authorities.

Overview of the Zhylyoi Subsoil Area

The Zhylyoi Subsoil Area covers approximately 958 square kilometers, strategically situated partly in the Atyrau region and partly in the Kazakhstan sector of the Caspian Sea. This region is known for its rich hydrocarbon resources and is pivotal for future explorations and developments.

Details of the Agreement

Under the terms of this agreement, CNOOC Hong Kong Holding Limited and the Joint Stock Company National Company KazMunayGas (KMG) will each hold a 50% interest in this collaboration. In line with the contract, the initial exploration phase will span a period of nine years, providing a robust timeline for the ongoing operations.

Implications for the Company

This venture into the Zhylyoi Subsoil Area represents a strategic move for CNOOC Limited, reinforcing its commitment to expanding its exploration portfolio. By establishing a joint operating company, both CNOOC and KMG aim to harness their combined expertise, maximizing operational efficiency and resource management.

Contact Information for Inquiries

For further inquiries regarding this significant project and other company information, the following contacts are available:

Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441

Mr. Cheng Yao
Ever Bloom (HK) Communications Consultants Group Limited
Tel: +852 5540 0725
Fax: +852 2111 1103

Frequently Asked Questions

What is the Zhylyoi Subsoil Area?

The Zhylyoi Subsoil Area is a region covering approximately 958 square kilometers, located in the Caspian Sea, known for its hydrocarbon resources.

Who are the partners in this EPC contract?

CNOOC Hong Kong Holding Limited partnered with the Joint Stock Company National Company KazMunayGas (KMG), each holding a 50% interest in the project.

What is the duration of the exploration phase?

The initial exploration phase is set to last for nine years, allowing for thorough assessment and development of the area.

What benefits does this agreement bring to CNOOC Limited?

This agreement enhances CNOOC Limited's exploration portfolio and establishes a cooperative operational framework, potentially increasing efficiency and resource management.

How can I contact CNOOC for more information?

Interested parties can reach out to Ms. Cui Liu or Mr. Cheng Yao directly for any inquiries related to the company and the exploration project.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

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