CNOOC Limited, together with its subsidiaries, engages in the exploration, development, production, and sale crude oil, natural gas, and petroleum products in China. The company has four oil production areas offshore China, which include Bohai Bay, western south China Sea, eastern south China Sea, and east China Sea, as well as offshore oil facilities in Indonesia and certain upstream assets in regions, such as Africa and Australia. As of 31 December 2006, CNOOC had net proved reserves of approximately 2.53 billion barrels-of-oil equivalent. The company was founded in 1982 and is based in Central, Hong Kong. CNOOC Limited is a subsidiary of China National Offshore Oil Corporation.

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