The Chinese oil behemoth is looking for a sizeable boost in production while also strengthening its experience in the deep-water sector.
Capital expenditure for the year is set to come in at between 105 billion Chinese yuan ($17.35 billion ) and 19.83 billion yuan, CNOOC Ltd said on Monday.
Of this, 65% will be spent on development, 19% on exploration and 14% on production.
