Par­ent drafts plan for CNOOC to cut costs

China Daily (Canada) - - BUSINESS -

Off­shore oil and gas pro­ducer China Na­tional Off­shore Oil Cor­po­ra­tion, said on Thurs­day that it has com­pleted re­search on the oil and gas out­put plan for 2016-20 for its sub­sidiary CNOOC Ltd. The company has found ac­cep­tance. CNOOC can now go ahead with the ex­plo­ration and de­vel­op­ment plan for 2016-20, the company said, as it needed a proper as­sess­ment of the risks and po­ten­tial of its gas and oil fields and ef­fec­tive mea­sures for re­duc­ing pro­duc­tion costs.

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