Finance

CNOOC Ltd boosts E&P budget on bullish oil outlook

China’s leading offshore operator has increased its budget by 13% for 2023, and field development will account for 59% of expenditure

Ready: the Hai Yang Shi You 123 will serve the SK-operated Lufeng 12-3 field development.
Ready: the Hai Yang Shi You 123 will serve the SK-operated Lufeng 12-3 field development.Photo: CMHI
  • Xu Yihe
Houston
CNOOC LtdChinaGuyanaStabroekBozhong
Published 11 January 2023, 23:01Updated 17 January 2023, 15:25