We will deepen international cooperation on energy

The general Secretary stressed that international cooperation should be strengthened in all aspects to achieve energy security under open conditions. At present, about 80% of the world's remaining recoverable reserves of crude oil and natural gas are distributed in countries along the "Belt and Road". Deepening the "Belt and Road" energy cooperation is not only a key measure for China to open up strategic channels for oil and gas imports, but also an inevitable requirement for China to achieve a higher level of opening-up. Cnooc resolutely implements the "Belt and Road" initiative, continuously promotes overseas business layout to focus on countries along the "Belt and Road", and makes greater efforts to promote foreign cooperation in the field of energy to a deep, wide range and high quality.

We will continue to deepen cooperation on international oil and gas development projects. It has deeply cultivated the oil and gas markets in Iraq and ABU Dhabi in the Middle East, actively deployed deepwater oil and gas assets in South America, completed the acquisition of the rights and interests of the Buzos project in Brazil, and successfully obtained a world-class oil and gas discovery of over 10 billion barrels of reserves in the Guyana project. At present, CNOOC has gradually formed four major oil and gas cooperation areas of the "Belt and Road" Asia-Pacific strategic starting point, the Middle East core hub area, the African extension development area and the main expansion area in Latin America, with a cumulative oil and gas equity production of more than 240 million tons, contributing to the maintenance of global energy security and promoting the high-quality development of the oil and gas industry.

We will continue to promote trade cooperation in energy, oil and gas. The global marketing network, resource allocation and integrated operation platform of sales, trade, storage, transportation and finance have been built, and the global oil and gas resource allocation and operation capabilities have been continuously improved. In the past ten years, CNOOC crude oil and LNG trade cooperation across 42 countries along the "Belt and Road", the cumulative crude oil trade volume reached 620 million tons, the import of LNG along the "Belt and Road" countries about 130 million tons, while the ability to obtain oil and gas resources has been continuously enhanced, but also for the "Belt and Road" along the market to provide more clean oil products.

We will continue to promote trade cooperation in energy, oil and gas. The global marketing network, resource allocation and integrated operation platform of sales, trade, storage, transportation and finance have been built, and the global oil and gas resource allocation and operation capabilities have been continuously improved. In the past ten years, CNOOC crude oil and LNG trade cooperation across 42 countries along the "Belt and Road", the cumulative crude oil trade volume reached 620 million tons, the import of LNG along the "Belt and Road" countries about 130 million tons, while the ability to obtain oil and gas resources has been continuously enhanced, but also for the "Belt and Road" along the market to provide more clean oil products.

At present, about 80% of the world's remaining recoverable reserves of crude oil and natural gas are distributed in countries along the "Belt and Road". Deepening the "Belt and Road" energy cooperation is not only a key measure for China to open up strategic channels for oil and gas imports, but also an inevitable requirement for China to achieve a higher level of opening-up. Cnooc resolutely implements the "Belt and Road" initiative, continuously promotes overseas business layout to focus on countries along the "Belt and Road", and makes greater efforts to promote foreign cooperation in the field of energy to a deep, wide range and high quality.