China National Offshore Oil Corporation (CNOOC) is a state-owned Chinese oil and gas company established on February 15, 1982. CNOOC is China's primary national offshore oil and gas operator and the largest offshore oil and gas producer in China. The company focuses on the exploration, development, and production of crude oil and natural gas, both domestically and internationally. CNOOC has exclusive rights to partner with foreign companies in offshore China projects. Its operations are mainly concentrated in offshore China, including Bohai, the Western and Eastern South China Sea, and the East China Sea. Beyond China, CNOOC has expanded its global presence with assets in Asia, Africa, North and South America, Oceania, and Europe.
CNOOC's business extends beyond exploration and production to include professional technical services, refining product sales and fertilizers, natural gas production and power generation, and financial services. It is also involved in new energy businesses such as offshore wind power. In recent years, CNOOC has focused on strategic global expansion and digital transformation, including securing new exploration blocks and developing smart oil and gas fields. Recent news includes a major gas breakthrough in the South China Sea and new oilfield discoveries. Key leadership changes were announced in late 2024, with Yan Hongtao appointed as President and Executive Director. Zhang Chuanjiang was appointed as Chairman of the Board, effective July 8, 2025. As of February 2026, CNOOC has a market capitalization of $162.32 billion USD. The company was ranked 56th in the 2024 Fortune Global 500.
