March 24, 2016 - 11:10 PM EDT
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CNOOC 2015 Net down 66.4%

, March 25, SinoCast -- CNOOC made CNY 20.25 billion net profits in 2015, down 66.4% year on year. The company's capital expenditures were CNY 66.5 billion last year, down 37.9%.

The company gained 16 new discoveries and appraised 23 structures containing oil and gas at home last year. One of the discoveries was the Liuhua 20-2 and one of the structures appraised was the Caofeidian 6-4. Moreover, the company gained new discoveries in

and appraised three structures containing oil and gas like the Libra in
. The company's net proved reserves reached 4.32 billion barrels of oil equivalent as of 2015 end.

The company recorded an oil and gas output of 495.7 million barrels of oil equivalent last year, up 14.6%; seven new projects it planned came into production smoothly last year.

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Source: News (March 24, 2016 - 11:10 PM EDT)

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