CNOOC (China) Co., Ltd. Tianjin Branch

CNOOC (China) Co., Ltd. Tianjin Branch (hereinafter referred to as Tianjin Branch) is a domestic branch of CNOOC Limited (China), mainly responsible for the exploration, development and production of oil and natural gas resources in the Bohai Sea area, and is located in Tanggu District, Tianjin. Tianjin Branch was established in 1966 and has cooperated with international oil companies such as ConocoPhillips, Chevron, Shell, and Kerr-McGee. In 1999, Tianjin Branch was restructured according to the global development strategy of CNOOC, and in 2003, under the unified leadership of China National Offshore Oil Corporation, it underwent in-depth reforms in employment and compensation systems. Up to now, Tianjin Branch has more than 600 employees, total fixed assets of about 15 billion RMB, cumulative discovered crude oil geological reserves of over 3 billion tons, owning 17 offshore oil and gas fields, more than 40 production platforms, 4 onshore terminals, with an annual oil and gas production capacity exceeding 10 million cubic meters of oil equivalent. According to the medium and long-term development plan of CNOOC, by 2010, CNOOC will achieve the strategic goal of annual domestic oil and gas production of 50-55 million cubic meters of oil equivalent. Tianjin Branch will undertake the arduous task of producing 25-30 million cubic meters of oil equivalent annually.