CNOOC Ltd, China’s top offshore operator expects its oil and gas production to dip by 5% this year to between 450 million and 460 million barrels of oil equivalent, partly due to field depletion and the lack of enough new fields to cushion the production fall that will cause.
Of the total production target for 2017, 64% will derive from domestic fields and 36% from its overseas projects, said the Hong Kong, New York and London-listed company.
Production
