A profile of CNOOC Limited
CNOOC Limited (the "Company", together with its subsidiaries, or the "Group"), is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and the sale of oil and natural gas. The Group's core operation areas are Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. Overseas, the Group has oil and gas assets in Asia, Africa, North America, South America, Oceania and Europe. China National Offshore Oil Corporation is the Company's largest shareholder. It currently holds approximately 64.44% of the Company's shares. CNOOC limited is listed on three stock exchanges, including New York, Toronto and Hong Kong. Standard & Poor's has issued a credit rating of AA- for CNOOC limited, while Moody's has issued a credit rating of Aa3. Both ratings are consistent with the rating agencies' respective credit ratings for the People's Republic of China.
TotalEnergies and CNOOC Limited partnering for oil development in Uganda
TotalEnergies EP ganda is partnering with CNOOC Uganda Limited (an overseas branch of CNOOC Limited) in the development of Uganda’s oil resources in the Lake Albert region. In 2012, Tullow Oil farmed-down an agreement with TotalEnergies EP Uganda and CNOOC Uganda Limited in which they each acquired a 33.3% interest in the Lake Albert Project Blocks 1, 1A-Lyec, 2 and 3-Kingfisher. Currently, TotalEnergies holds majority interest in the Lake Albert project with 56.67%* and is operator of the Tilenga project while CNOOC holds 28.33%* and is operator of the Kingfisher project. The Uganda National Oil Company holds 15%* in the projects. CNOOC Uganda Limited received a Production License for the Kingfisher area in September 2013. Together, the partners have moved into the development phase of these oil resources. See more about CNOOC.
About the Uganda National Oil Company
Uganda National Oil Company (UNOC) was established under Section 42 of the Petroleum (Exploration, Development and Production) Act and Section 7 of the Petroleum (Refining, Conversion, Transmission and Midstream Storage) Act, both of 2013. UNOC was incorporated under the Company’s Act of 2012 as a limited liability company wholly owned by the government of Uganda. Its overall function is to handle the state’s commercial interests in the petroleum sector and to ensure that the resource is exploited in a sustainable manner. See more on UNOC
Committed to better energy, over 98,000 employees help throughout the world to provide the Group’s customers with products and services that are safer, more affordable, cleaner, more efficient, more innovative and accessible to the greatest number of people.
TotalEnergies puts Corporate Social Responsibility (CSR) at the heart of its activities and conducts its operations according to the following principles of:
- protecting the safety and security of people and its facilities;
- limiting its environmental footprint;
- ensuring that its Code of Conduct is applied in its sphere of operations;
- incorporating the challenges of sustainable development in the exercise of its activities;
- increasing its local operations by placing dialogue with its stakeholders at the heart of its policy and contributing to the economic and social development of the regions where the Group has operations with the objective of creating shared value;
- promoting equal opportunities and fostering diversity and cultural mix among its personnel.