Financial Performance - The company's operating revenue for Q1 2023 was RMB 97,711 million, representing a 7.5% increase compared to RMB 90,898 million in Q1 2022[8] - The net profit attributable to shareholders for Q1 2023 was RMB 32,113 million, showing a decrease of 6.38% from the previous year[13] - The company's oil and gas sales revenue reached approximately RMB 74.2 billion, a decrease of 9.9% year-on-year, primarily due to lower realized prices despite increased sales volume[35] - The net profit attributable to shareholders was RMB 32.11 billion, down 6.4% year-on-year[35] - Total operating revenue for Q1 2023 reached 97,711 million, an increase of 7.9% compared to 90,898 million in Q1 2022[43] - Net profit for Q1 2023 was 32,109 million, a decrease of 6.4% from 34,300 million in Q1 2022[46] - Basic earnings per share for Q1 2023 were 0.68, down from 0.77 in Q1 2022, a decrease of 11.7%[49] Sales and Production - Oil and gas sales revenue decreased by 9.9% to RMB 74,196 million, with oil liquid sales down by 13.6% to RMB 63,283 million, while natural gas sales increased by 19.9% to RMB 10,913 million[8] - In Q1 2023, the company achieved a total net production of 163.9 million barrels of oil equivalent, an increase of 8.6% year-on-year[34] - Domestic net production was 115.3 million barrels of oil equivalent, up 5.5% year-on-year, mainly due to contributions from new projects[34] - Overseas net production reached 48.6 million barrels of oil equivalent, an increase of 16.6% year-on-year, primarily from increased output in Guyana and Brazil[34] Capital Expenditures and Investments - Capital expenditures for exploration and development increased significantly, with exploration costs rising by 26.9% to RMB 4,919 million and development costs up by 78.1% to RMB 15,804 million[8] - Capital expenditures for the quarter were approximately RMB 24.74 billion, an increase of 46.1% year-on-year, driven by increased exploration and ongoing project work[35] - The company made 2 new discoveries and successfully evaluated 6 oil and gas structures during the quarter, with new projects on track for production within the year[34] Cash Flow and Assets - The net cash flow from operating activities increased by 31.84% to RMB 51,968 million, attributed to higher cash inflows from oil and gas sales[17] - Cash flow from operating activities for Q1 2023 was 51,968 million, compared to 39,416 million in Q1 2022, representing a 31.9% increase[50] - Total assets at the end of Q1 2023 were RMB 961,159 million, reflecting a 3.46% increase from RMB 929,031 million at the end of the previous year[5] - Current assets totaled 292,285 million as of March 31, 2023, an increase of 10.5% from 264,679 million at the end of 2022[42] - The company reported a significant increase in cash and cash equivalents, rising to 142,271 million from 121,387 million, a growth of 17.2%[42] Equity and Liabilities - The equity attributable to shareholders increased by 4.78% to RMB 625,740 million compared to RMB 597,182 million at the end of the previous year[5] - The company's total liabilities amounted to RMB 334.22 billion, compared to RMB 330.65 billion in the previous period[32] - The total equity attributable to shareholders was RMB 625.74 billion, up from RMB 597.18 billion in the previous period[32] - The company's total liabilities increased to 236,103 million as of March 31, 2023, compared to 233,678 million at the end of 2022, a rise of 1.8%[42] Pricing and Market Conditions - The average realized price for oil liquids decreased by 23.9% to USD 74.17 per barrel, while the average price for natural gas remained relatively stable at USD 8.33 per thousand cubic feet[8] - The average realized oil price was $74.17 per barrel, a decrease of 23.9% year-on-year, while the average realized gas price remained stable at $8.33 per thousand cubic feet[35] Research and Development - The company’s research and development expenses for Q1 2023 were 351 million, up from 225 million in Q1 2022, reflecting a 56.0% increase[43]

Financial Performance - In 2022, the company achieved a record high operating revenue of 422,230 million, representing a 72% increase compared to 246,111 million in 2021[51]. - The net profit attributable to shareholders reached 141,700 million, a 102% increase from 70,320 million in 2021[51]. - The company reported a cash flow from operating activities of 205,574 million, up 39% from 147,893 million in 2021[51]. - In 2022, the company achieved a record net profit of RMB 141.7 billion, representing a 101.5% increase year-over-year[65]. - Oil and gas sales revenue reached RMB 353 billion, driven by high oil prices and increased production[65]. Production and Reserves - Net oil liquid production in China increased from 705,366 barrels per day in 2018 to 921,130 barrels per day in 2022, representing a growth of approximately 30.6%[29]. - Total net production (barrel of oil equivalent per day) rose from 1,243,357 in 2018 to 1,652,718 in 2022, reflecting an increase of about 32.8%[30]. - Natural gas net production in China grew from 834.8 million cubic feet per day in 2018 to 1,554.5 million cubic feet per day in 2022, marking an increase of approximately 86.1%[29]. - Proven oil reserves in China reached 2,280.4 million barrels by the end of 2022, up from 1,783.2 million barrels in 2018, indicating a growth of approximately 27.8%[30]. - The company reported a total net production of 1,709,175 barrel of oil equivalent per day in 2022, up from 1,301,438 in 2018, representing a growth of about 31.3%[30]. Exploration and Discoveries - The company completed 224 exploration wells in China, resulting in 18 new discoveries and the successful evaluation of 28 oil and gas structures[64][69]. - The exploration replacement ratio was 182%, with a reserve life of 10.0 years, ensuring sustainable resource development[68]. - The company achieved a significant breakthrough in offshore shale oil exploration with the successful fracturing test of the first offshore shale oil well[113]. - The company achieved a significant breakthrough in the Bohai Sea with the discovery of over 100 million tons of proven oil geological reserves in the Bohai Zhong 26-6 area, marking the largest proven reserve scale for metamorphic rock potential oil fields in China[136]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.75 per share (tax included) for the year ended December 31, 2022, totaling HKD 1.45 per share including the interim dividend[7]. - The board proposed a final dividend of 0.75 HKD per share for the year-end 2022[36]. Technological Advancements and R&D - The company successfully installed Asia's first deepwater jacket platform, enhancing its technological capabilities[66]. - The company increased its R&D investment by 22% in 2022, focusing on marine oil and gas exploration and energy transition technologies[174]. - The company’s first offshore carbon capture and storage (CCS) facility was installed at the Enping 15-1 production platform, marking a significant step in its low-carbon development strategy[181]. Sustainability and Low-Carbon Development - The company emphasizes its commitment to low-carbon development and risk management in its operations[17]. - The company plans to continue promoting green development and the integration of oil and gas with renewable energy[61][89]. - The company has established a new energy subsidiary and expanded its operations in regions such as Hainan, Guangdong, and Fujian, enhancing its management structure for renewable energy[178]. International Operations - As of the end of 2022, overseas oil and gas assets accounted for approximately 47.2% of the company's total oil and gas assets[40]. - In Africa, the company's reserves and production reached 88.3 million barrels of oil equivalent and 75,647 barrels of oil equivalent per day, respectively, as of the end of 2022[124]. - As of the end of 2022, South America became the largest region for the company's overseas oil and gas production, with reserves and production reaching 1,024.0 million barrels of oil equivalent and 145,677 barrels of oil equivalent per day, accounting for approximately 16.4% and 8.5% of the company's total reserves and production, respectively[158].

证券代码：600938 证券简称：中国海油 公告编号：2023-004 中国海洋石油有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资者可于 2023 年 03 月 22 日(星期三)至 03 月 28 日(星期二)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@cnooc.com.cn 进行提问。 中国海洋石油有限公司（以下简称"公司"）将于 2023 年 03 月 29 日闭市 后发布公司 2022 年度报告。为便于广大投资者更全面深入地了解公司 2022 年经 营成果和财务状况，公司计划于 2023 年 03 月 29 日下午 17:00-18:00 举行 2022 年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次业绩说明会以网络直播、电话会议和网络互动形式召开，公司将针对 2022 年的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信 息披露允许的范围内就投资者普遍关注的问题进行回答 ...

Financial Performance - Total revenue for Q3 2022 reached RMB 108,790 million, an increase of 70.99% year-on-year[2] - Net profit attributable to shareholders was RMB 36,881 million, reflecting a year-on-year growth of 89.06%[2] - Net profit excluding non-recurring gains and losses was RMB 36,375 million, up 91.58% compared to the same period last year[3] - Basic earnings per share for Q3 2022 was RMB 0.77, representing a 75.00% increase from the previous year[3] - The company reported a total comprehensive income of RMB 131,379 million for Q3 2022, compared to RMB 52,531 million in Q3 2021, marking an increase of 150%[24] - Net profit attributable to shareholders of the parent company for Q3 2022 was RMB 108,768 million, compared to RMB 52,837 million in Q3 2021, reflecting a growth of 105%[24] - Earnings per share for Q3 2022 were RMB 2.34, compared to RMB 1.18 in Q3 2021, representing an increase of 98%[24] Cash Flow and Assets - Operating cash flow for the first nine months of 2022 was RMB 166,892 million, an increase of 59.49% year-on-year[3] - Cash and cash equivalents stood at RMB 149.36 billion as of September 30, 2022, compared to RMB 79.73 billion at the end of 2021, representing an increase of approximately 87.2%[20] - The cash and cash equivalents at the end of Q3 2022 amounted to RMB 104,111 million, up from RMB 42,283 million at the end of Q3 2021, showing an increase of 146%[27] - The net cash flow generated from operating activities for the first three quarters of 2022 was RMB 166,892 million, up from RMB 104,642 million in the same period of 2021, indicating a rise of 59%[25] - The company experienced a significant increase in cash inflow from operating activities, totaling RMB 327,666 million in the first three quarters of 2022, compared to RMB 176,248 million in the same period of 2021, an increase of 86%[25] Production and Sales - Oil and gas sales revenue for Q3 2022 was RMB 89,206 million, a 53.7% increase year-on-year[7] - In the first three quarters of 2022, the company achieved a net production of 461.5 million barrels of oil equivalent, a year-on-year increase of 9.3%, setting a historical record for the same period[14] - The total production of natural gas in Q3 2022 was 140.7 billion cubic feet, compared to 119.8 billion cubic feet in Q3 2021, showing an increase of about 17.5%[17] - In Q3 2022, total oil equivalent production reached 106.9 million barrels, a significant increase from 100.1 million barrels in the same period of 2021, representing a growth of approximately 6.8%[17] - The total net production of oil liquids in China for Q3 2022 was 83.0 million barrels, compared to 79.8 million barrels in Q3 2021, indicating a year-over-year increase of about 2.5%[17] Capital Expenditures and Investments - Capital expenditures for exploration in Q3 2022 were RMB 4,731 million, a 8.9% increase compared to the same period last year[8] - The company’s capital expenditure reached approximately RMB 68.69 billion, a year-on-year increase of 20.6%, due to increased workload[14] - The company plans to expand its market presence and invest in new technologies to enhance production efficiency and sustainability[22] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to RMB 934,962 million, an increase of 18.87% from the end of the previous year[3] - The total liabilities increased to RMB 366.13 billion as of September 30, 2022, compared to RMB 304.59 billion at the end of 2021, marking an increase of about 20.2%[21] - The company reported a total of 300.63 billion in current assets as of September 30, 2022, compared to 207.98 billion in the previous year, indicating a growth of about 44.4%[20] - The company’s oil and gas assets reached RMB 498.32 billion as of September 30, 2022, up from RMB 458.87 billion at the end of 2021, reflecting an increase of approximately 8.6%[20] Operational Highlights - The company made 14 new discoveries and successfully evaluated 20 oil and gas structures in the first three quarters of 2022[14] - The company successfully put 6 projects into production during the first three quarters, with other new projects progressing steadily[14] - The company launched its first independently developed deep-water subsea production system, which is significant for the effective development of deep-water oil and gas fields in the South China Sea[15] - The average realized price for oil liquids was USD 95.80 per barrel, a 36.1% increase year-on-year[8] - The average realized oil price was $101.40 per barrel, up 55.8% year-on-year, while the average realized gas price was $8.14 per thousand cubic feet, up 20.2% year-on-year[14] - The average cost per barrel of oil was well controlled at $30.29[14]

Financial Performance - In the first half of 2022, the company achieved its best historical performance for the same period, driven by effective exploration and development efforts[12]. - The company achieved a net profit of RMB 71.89 billion for the first half of the year, a significant increase of 115.7% compared to the same period last year[15]. - The company's operating revenue for the first half of the year was RMB 202.36 billion, up 84% year-on-year[15]. - The basic earnings per share increased to RMB 1.57, reflecting a growth of 109% compared to the previous year[16]. - The company reported a total profit for the six months ended June 30, 2022, of RMB 97,898 million, representing a 117.5% increase compared to RMB 44,973 million in the previous year[115]. - The gross profit margin improved significantly, with gross profit reaching RMB 111,117 million, resulting in a gross margin of approximately 54.8%[115]. - The company reported a net cash flow from operating activities of RMB 102.23 billion, an increase of 59% year-on-year[15]. - The company’s total comprehensive income for the six months ended June 30, 2022, was RMB 18,529 million, compared to RMB 3,577 million for the same period in 2021, indicating a significant increase of approximately 418%[124]. Exploration and Development - Significant oil and gas discoveries were made in the Bohai Sea, including two major discoveries at Bozhong 26-6 and Bozhong 19-2, further solidifying the resource base[12]. - The Stabroek project in Guyana yielded five new discoveries, with recoverable resources estimated at approximately 11 billion barrels of oil equivalent[12]. - The company achieved 9 new discoveries and successfully evaluated 16 oil and gas structures in the first half of the year, reinforcing its resource base for sustainable development[26]. - The company completed 152 exploration wells in the first half of the year, including 7 overseas and 31 unconventional onshore wells, and collected 10,167 square kilometers of 3D seismic data[27]. - The company successfully launched major projects including the Weizhou 12-8 oil field and the Guyana Liza Phase II project, contributing to the production increase[28][35]. Technological Innovation - The company made breakthroughs in offshore shale oil exploration and successfully completed hydraulic fracturing in onshore deep coalbed methane wells[12]. - The company has successfully implemented the "Deep Sea No. 1" energy station and installed Asia's first deepwater jacket platform, "Haiji No. 1"[13]. - The company made significant progress in technology innovation, including the successful installation of Asia's first ultra-deepwater jacket platform, enhancing its capabilities in deepwater oil and gas field development[36]. - The company is actively exploring new models for offshore "carbon-negative" industries and has initiated China's first large-scale CCS/CCUS cluster research project[14]. Financial Position - The company's total assets reached RMB 919.81 billion, reflecting a year-on-year increase of 17%[15]. - The company's overseas assets amounted to RMB 407,897 million, accounting for 44% of total assets, with overseas subsidiary China National Offshore Oil International Co., Ltd. generating RMB 48,256 million in revenue[90]. - The company reported a total of RMB 161,364 million in cash and cash equivalents, representing 18% of total assets, up 102% from RMB 79,730 million last year[89]. - The company’s total liabilities included RMB 57,488 million in other payables, a significant increase of 631% due to the declaration of special dividends[89]. - The company’s total liabilities amounted to RMB 370,001 million, representing a 21.5% increase from RMB 304,593 million at the end of 2021[113]. Shareholder Information - CNOOC (BVI) Limited holds 28,772,727,268 shares, representing 64.44% of the issued Hong Kong shares[68]. - China National Offshore Oil Corporation (CNOOC) owns 29,112,507,273 shares, accounting for 65.21% of the total issued shares[68]. - The company had 214,019 common stock shareholders as of the report date, with 212,399 A-share holders and 1,620 Hong Kong stock holders[105]. - The largest shareholder, China National Offshore Oil Corporation (CNOOC) BVI, holds 28,772,727,268 shares, representing 60.40% of total shares[106]. - The report highlights that the majority of the top shareholders are state-owned enterprises, indicating a strong government influence in the company[106]. Risk Management - The company faces risks from macroeconomic factors, including the impact of geopolitical tensions and the COVID-19 pandemic on oil and gas supply and demand[42]. - The company is exposed to market risks due to fluctuations in oil and gas prices, which can significantly affect its business and cash flow[46]. - The company has a high concentration of sales to major customers, which poses a risk if any key customer significantly reduces purchases[53]. - The company is actively developing new suppliers to mitigate risks associated with high supplier concentration in its service procurement[54]. Environmental and Social Responsibility - The company emphasizes sustainable development and has made significant progress in enhancing its resource foundation[12]. - The company is advancing its green low-carbon initiatives, including the large-scale use of green electricity on offshore platforms, expected to consume 186 million kilowatt-hours of green electricity this year[37]. - The company has implemented measures to reduce carbon emissions, including increasing the proportion of natural gas production and expanding offshore oil and gas field electrification[81]. - The company is committed to ecological protection and pollution prevention, adhering to relevant environmental laws and regulations[80]. - The company continues to promote rural revitalization and improve rural living conditions[82]. Corporate Governance - The financial report is prepared in accordance with both Chinese and international accounting standards, ensuring transparency and compliance[3]. - The audit committee reviewed the interim results for the six months ending June 30, 2022, which were unaudited[70]. - The company has complied with all provisions of the Corporate Governance Code during the six months ending June 30, 2022[72]. - The company reported that all directors confirmed compliance with the ethical standards required by the company's code during the six months ending June 30, 2022[73]. - The company experienced a change in executive leadership with the appointment of a new CEO on April 28, 2022[74].