China’s state-owned CNOOC Limited met its annual oil and gas production targets in 2018 and reached a record high in its net proved reserves. In its 2018 annual results for the full year 2018, CNOOC said it had expanded its oil and gas reserves and production at a steady pace, as well as improving its cost control. Total net oil and gas production was 475m boe, meeting the annual target set at the start of 2018.
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