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14

CNOOC Increased Oil and Gas Output

China National Offshore Oil Corp said on Thursday that its daily output of oil and gas increased by 5.1 percent

China National Offshore Oil Corp.(CNOOC) said on Thursday that its daily output of oil and gas increased by 5.1 percent in the first quarter over the same period of 2006 to reach 473,280 barrels of oil equivalent.

CNOOC, China's leading offshore oil and gas producer, said its pre-tax revenue in the same period hit 14.85 billion yuan (1.9 billion U.S. dollars).

It produced 378,734 barrels of crude oil per day.

CNOOC said the Northwest Continental Shelf Project in Australia and the South East Sumata (SES) Gas Project in Indonesia had boosted the company's natural gas performance.