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Oil and gas output hit 647,382 barrels of oil equivalent, increasing 18.4% year on year. The average price of crude oil dropped 36.6% to USD 67.83 per barrel, rising 37.45% compared with the figure in the first half of the year. And the price of nature gas climbed 2.8% to USD 3.93 per millenary cubic feet.
The company began operating its self-support oil and gas field Ledong 22-1 to 15-1 project from the third quarter, and its projects under construction all go smoothly now. Remarkably, three new oil fields were explored by the company in the quarter.
The global oil prices are recovering stably nowadays, and it creates a good external environment for CNOOC, said Fu Chengyu, CEO of the oil titan, adding that he is confident off achieving the scheduled output this year.
Source: www.cnstock.com (October 30, 2009)
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