The
Chinese
crude
producer
saw
its
average
realised
oil
price
jump
40.8%
year-on-year
to
$109.75
per
barrel
in
2011,
with
gas
prices
also
up
14.7%
to
$5.15
per
thousand
cubic
feet.
The
boosted
balance
sheet
came
despite
largely
flat
production
of
331.8
million
barrels
of
oil
equivalent,
up
0.7%
year-on-year,
in
a
year
dominated
by
the
suspension
of
production
due
to
the
Penglai
oil
spill
in
Bohai
Bay.
CNOOC
made
13
discoveries
over
the
year,
three
of
them
overseas,
and
18
successful
appraisals,
two
of
which
were
outside
China.
Its
key
overseas
acquisition
during
2011
was
gaining
a
one-third…
