CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals

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CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals
Published on January 2009

Report Summary


Summary

Global Market Direct's CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals is an essential source for company data
and information. The report examines CNOOC Limited's key business structure and operations, history and products, and provides
detailed analysis of its key revenue lines and strategy. It provides a unique insight into the company's major LNG terminals

Scope

' Provides all the crucial company information required for business and competitor intelligence needs
' Details the company's LNG terminals internationally.
' Data is supplemented with details on the company's history, key executives, business description, locations and subsidiaries as well
as a list of products and services and the latest available company statement.

Resons to buy

' Obtain up to date company information.
' Understand and respond to your competitors' business structure, strategy and prospects.
' Assess your competitor's LNG terminals
' Support sales activities by understanding your customers' businesses better.
' Qualify prospective partners and suppliers.

Table of Content

1 Table of Contents
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 12
2 Company Snapshot 13
2.1 Key Information 13
2.2 Company Overview 13
2.3 Financial Performance 13
2.4 SWOT Snapshot 13
3 CNOOC Limited LNG Operations 14
3.1 LNG Operation, Liquefaction 14
3.1.1 LNG Operation, Liquefaction, Total Liquefaction Capacity, 2000 - 2012 14
3.1.2 LNG Operation, Liquefaction, Liquefaction Capacity in Indonesia, 2000 - 2012 15

CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals Page 1/8


3.2 LNG Operation, Regasification 15
3.2.1 LNG Operation, Regasification, Total Regasification Capacity, 2000 - 2012 15
3.2.2 LNG Operation, Regasification, Regasification Capacity in China, 2000 - 2012 17
3.3 CNOOC Limited's Liquefaction Terminal Details 18
3.3.1 CNOOC Limited's Liquefaction Terminal Details, Tangguh LNG 18
3.3.2 CNOOC Limited's Liquefaction News Details, Tangguh LNG 19
3.3.3 CNOOC Limited's Liquefaction News Details, Tangguh LNG 27
3.4 CNOOC Limited's Regasification Terminal Details 28
3.4.1 CNOOC Limited's Regasification Terminal Details, Fujian LNG 28
3.4.2 CNOOC Limited's Regasification News Details, Fujian LNG 29
3.4.3 CNOOC Limited's Regasification Terminal Details, Guangdong LNG 31
3.4.4 CNOOC Limited's Regasification News Details, Guangdong LNG 32
3.4.5 CNOOC Limited's Regasification News Details, Guangdong LNG 37
3.4.6 CNOOC Limited's Regasification Terminal Details, Zhuhai 37
3.4.7 CNOOC Limited's Regasification News Details, Zhuhai 38
3.4.8 CNOOC Limited's Regasification Terminal Details, Hainan LNG 39
3.4.9 CNOOC Limited's Regasification Terminal Details, Shanghai LNG 40
3.4.10 CNOOC Limited's Regasification News Details, Shanghai LNG 40
3.4.11 CNOOC Limited's Regasification Terminal Details, Zhejiang LNG 41
4 Business Description 42
4.1 Business Overview 42
4.2 Independent Operations 42
4.2.1 Overview 42
4.2.2 Financials 42
4.2.3 Capital Expenditure 42
4.2.4 Key Strategies 42
4.3 Production Sharing Contracts 42
4.3.1 Overview 42
4.3.2 Financials 43
4.3.3 Capital Expenditure 43
4.3.4 Market View 43
4.3.5 Key Strategies 43
4.4 Trading 43
4.4.1 Overview 43
4.4.2 Financials 43
4.5 Major Products and Services 43
4.5.1 Overview 43
5 History 44
6 Business Strategy 46
6.1 Mission Statement 46
6.2 Strategy 46
6.3 Corporate Social Responsibility 46
6.3.1 Overview 46
6.3.2 Specific CSR Initiatives 46
7 Value Chain Analysis 48
7.1 Upstream 48
7.1.1 Overview 48
7.1.2 Financials, Production and Major Projects 49
8 SWOT Analysis 50
8.1 Overview 50



8.2 CNOOC Limited Strengths 50
8.2.1 Strong operations 50
8.2.2 Balanced portfolio 51
8.2.3 Steady Revenue Growth 51
8.3 CNOOC Limited Weaknesses 51
8.3.1 Overdependence on the Domestic Market 51
8.3.2 Poor Resource Management 51
8.4 CNOOC Limited Opportunities 52
8.4.1 Strategic Partnerships and Projects 52
8.4.2 Growth in Oil and Gas Demand 52
8.4.3 Increasing Demand for Refined Petroleum Products 52
8.5 CNOOC Limited Threats 53
8.5.1 Stringent Restrictions 53
8.5.2 Price Fluctuations 53
8.5.3 China's Entry into WTO 53
8.5.4 Political Instability in Nigeria 53
9 Competitors 55
10 Revenue Analysis 56
10.1 Revenue by Segment 56
10.2 Revenue by Geography 56
11 Financial and Operational Review 57
11.1 Financial Statements 57
11.2 Financial Ratios 58
12 Operational Indicators 59
13 Share Holding Structure 60
14 Key Employees 61
15 Key Employee Biographies 62
16 Company Statement 64
17 Locations And Subsidiaries 67
17.1 Head Office 67
17.2 Other Locations & Subsidiaries 67
18 Financial Deals Landscape 68
18.1 CNOOC Limited, Deals Volume Summary, 2004 to YTD 2008 68
18.2 CNOOC Limited, Deals Summary By Region, 2004 to YTD 2008 69
18.3 CNOOC Limited, Deals Summary, 2004 to YTD 2008 70
18.4 CNOOC Limited Detailed Deal Summary 73
18.4.1 Rumored Deals 73
18.4.2 Asset Purchase 79
18.4.3 Acquisition 93
18.4.4 Debt Offerings 100
18.4.5 Partnerships 101
19 Recent Developments 116
19.1 License Awards 116
19.1.1 Dec 16, 2008: CNOOC Wins Approval To Develop Oil And Gas Projects In South China Sea 116
19.1.2 Oct 17, 2008: CNOOC Wins NDRC Approval To Construct Oil Terminal In Huizhou 116
19.1.3 Aug 08, 2008: CNOOC And Husky Receive Approval For Madura BD Wet Gas Project In Indonesia 116
19.1.4 Jul 12, 2008: Petrobangla Selects Two International Oil Firms For Exploring Hydrocarbons In Bay Of Bengal 116
19.1.5 Jul 03, 2008: Four Chinese Oil Firms To Bid For Oil And Gas Rights In Iraq 117
19.1.6 May 23, 2008: Indonesia Awards Exploration Rights For Five Oil And Gas Blocks 118
19.1.7 May 07, 2008: Bangladesh To Allow Exploration Of Offshore Gas Fields 118



19.1.8 Apr 15, 2008: Iraq Says Four Chinese Companies Being Qualified For Oil Contracts 118
19.1.9 Nov 23, 2007: Lion Petroleum Gets PSC For Onshore Block 1, Kenya 119
19.1.10 Dec 12, 2006: CNOOC Signs PSC With Devon 119
19.1.11 Jun 07, 2006: CNOOC Inks PSC With BG 120
19.2 Strategy and Business Expansion 120
19.2.1 Dec 08, 2008: CNOOC And Tangshan City Sign Framework Agreement Of Strategic Cooperation 120
19.2.2 Nov 12, 2008: NIOC And CNOOC Finalize Plan To Develop Iran's North Pars Gas Field 120
19.2.3 Nov 06, 2008: CPC And CNOOC To Expand Taiwan Strait E&P JV 121
19.2.4 Sep 25, 2008: CNOOC Delays Start-up At Huizhou Refinery 123
19.2.5 Sep 11, 2008: CLP Abandons Plans To Build Hong Kong LNG Gas Plant 123
19.2.6 Aug 28, 2008: CNOOC Invests CNY45 Billion To Expand Huizhou Refinery 123
19.2.7 Aug 16, 2008: CPC May Sign Agreement With CNOOC To Jointly Explore Oil And Gas In Northern Keelung Port 123
19.2.8 Jul 03, 2008: CNOOC Wants Petrobras' Help In Developing Offshore Oil Reserve 124
19.2.9 Jun 29, 2008: POGC In Gas Deal Talks With CNOOC 124
19.2.10 May 06, 2008: CPC To Extend Its Joint Venture With CNOOC By Two Years 124
19.2.11 Mar 31, 2008: Woodside Approves North Rankin 2 Project 125
19.2.12 Jan 22, 2008: Guangdong Dapeng To Extend Shenzhen Dapeng LNG Project 126
19.2.13 Jan 22, 2008: CNOOC To Enter Agreement With Iran For LNG Supply 126
19.2.14 Aug 14, 2007: Newfield Signs Two New PSCs, Offshore China 126
19.2.15 Aug 06, 2007: CNOOC Signs PSC With SPC 126
19.2.16 Aug 06, 2007: SPC Enters Into Contract With CNOOC 127
19.2.17 Feb 21, 2007: CNOOC To Construct New Jacket For PY 30-1 Project 127
19.2.18 Aug 08, 2006: CNOOC Inks PSC With Husky 127
19.3 Recent Discoveries 128
19.3.1 Dec 03, 2008: CNOOC Announces Discovery At Jinzhou 25-1 Well In Bohai Bay, China 128
19.3.2 Oct 06, 2008: CNOOC Announces New Oil Discovery At Bozhong (BZ) 35-2 Well In Bohai Bay, China 128
19.3.3 Aug 12, 2008: CNOOC Discovers Oil And Gas In Wildcat Well On BZ 29-5 Structure, China 129
19.3.4 Jul 07, 2008: CNOOC Discovers Oil And Gas In KL 10-1-1 Well, Bohai Bay 129
19.3.5 Nov 22, 2007: CNOOC Hits 10 New Discoveries, Offshore China 129
19.3.6 Mar 19, 2007: CNOOC Declares New Discovery At Bohai Bay 130
19.4 Drilling and Production Updates 130
19.4.1 Dec 12, 2008: CNOOC To Commence Production From Jinzhou 25-1 Oil Field In 2010 130
19.4.2 Oct 27, 2008: Primeline Announces Plans To Explore Lishui 36-1 Well On Block 25/34, China 130
19.4.3 Sep 16, 2008: CNOOC's Platform B Of Phase II Penglai 19-3 Oil Field Comes On Stream Ahead Of Schedule 132
19.4.4 Jul 02, 2008: CNOOC Begins Trial Production At Its Wenchang Oilfields 133
19.4.5 Jun 24, 2008: CNOOC Starts Production On Xijiang 23-1 Field In South China 133
19.4.6 May 06, 2008: Anadarko To Drill Exploration Well In China 133
19.4.7 Apr 25, 2008: DNO Provides Operational Update 134
19.4.8 Jan 29, 2008: CNOOC Announces Rapid Production Growth 135
19.4.9 Dec 25, 2007: CNOOC Announces Startup Of JZ 21-1 Oil And Gas Field 135
19.4.10 Dec 25, 2007: CNOOC Begins Production At BZ 34-1 Field 135
19.4.11 Nov 27, 2007: CNOOC's Announces Startup Of New Platform Of PL 19-3 Oil Field 136
19.4.12 Nov 09, 2007: CNOOC Plans To Double Output From Bohai Field 136
19.4.13 Oct 30, 2007: CNOOC Declares Q3 2007 Production Results 136
19.4.14 Sep 24, 2007: CNOOC's SES Gas Project Phase Starts Production 137
19.4.15 Aug 29, 2007: CNOOC Restarts Production At LH 11-1 Oilfield 137
19.4.16 May 18, 2007: CNOOC Announces Startup Of WZ 11-1 138
19.4.17 Apr 26, 2007: CNOOC Declares Q1 2007 Production Results 138
19.4.18 Nov 10, 2006: CNOOC Updates On JZ 31-6-1 In Bohai Bay 139
19.4.19 Oct 30, 2006: CNOOC Begins Production From WZ 6-1 Oilfield 139



19.4.20 Oct 26, 2006: CNOOC Starts Production In Bohai Bay 139
19.5 Financial Announcements 140
19.5.1 Oct 28, 2008: CNOOC Declares 3Q 2008 Results 140
19.5.2 Aug 27, 2008: CNOOC Declares 1H 2008 Results 140
19.5.3 Apr 28, 2008: CNOOC Declares Q1 2008 Results 141
19.5.4 Mar 27, 2008: CNOOC Declares 2007 Results 141
19.5.5 Mar 29, 2007: CNOOC Declares 2006 Results 142
19.5.6 Oct 31, 2006: CNOOC Declares Q3 2006 Results 143
19.5.7 Aug 29, 2006: CNOOC Declares First Half 2006 Results 143
19.6 Other Significant Developments 144
19.6.1 Nov 24, 2008: CNOOC To Invest CNY200 Billion On Deep-Water Exploration In South China Sea 144
19.6.2 Nov 04, 2008: Primeline Commences Autumn Environmental Survey On Lishui 36-1 Well In Block 25/34, China 144
19.6.3 Oct 06, 2008: CNOOC Starts Construction Of LNG Terminal In Guangdong Province, China 145
19.6.4 Oct 03, 2008: Woodside's North West Shelf Venture Places Angel Platform On Production 145
19.6.5 Sep 29, 2008: CNOOC Commences Construction Of Barge In China's Jiangsu Province 146
19.6.6 Sep 23, 2008: CNOOC To Spend CNY7 Billion On Haihua Refinery Expansion 146
19.6.7 Sep 22, 2008: Qalhat Signs LNG Sale Agreement With CNOOC 146
19.6.8 Sep 04, 2008: Total To Sign LNG Deal With China By 2008 Year-End 147
19.6.9 Aug 01, 2008: CNOOC Receives Second LNG Spot Cargo For Its Fujian Terminal 147
19.6.10 Jul 03, 2008: Indonesia Seeks To Negotiate Price Hike In Tangguh LNG 147
19.6.11 Jun 23, 2008: Qatargas Enters Into Agreement With CNOOC 148
19.6.12 Jun 16, 2008: Total And CNOOC Signs MoU To Supply LNG To China 148
19.6.13 May 07, 2008: CNOOC Says Fujian Terminal Receives First LNG Cargo From Egypt 149
19.6.14 May 06, 2008: CNOOC To Invest In Oil And Gas Leases In The US Gulf Of Mexico 149
19.6.15 Apr 25, 2008: China Instructs Oil Producers To Boost Diesel Output 149
19.6.16 Apr 22, 2008: Husky Says Developing Liwan Natural Gas Field May Cost Upto $5 Billion 150
19.6.17 Apr 10, 2008: CNOOC Notifies 17 Oil Blocks For Exploration With Foreign Companies In 2008 150
19.6.18 Apr 09, 2008: CNOOC's First Oil Refinery To Be Completed By October 2008 152
19.6.19 Apr 08, 2008: CNOOC, Iran LNG Contract Delayed On US Concerns 152
19.6.20 Mar 14, 2008: Indonesia To Ask CNOOC To Raise Its Price For LNG 153
19.6.21 Feb 27, 2008: US To Look If CNOOC-Iran Deal Violates US Sanctions 154
19.6.22 Feb 26, 2008: Iran, CNOOC To Sign $16 Billion Gas Deal 154
19.6.23 Jan 25, 2008: CNOOC's Huizhou Refinery To Start Operation In Second Half Of 2008 154
19.6.24 Jan 22, 2008: CNOOC Begins Fujian LNG Terminal Storage Expansion 154
19.6.25 Jan 18, 2008: Talisman, CNOOC Settle Tangguh LNG Lawsuit 155
19.6.26 Dec 17, 2007: Primeline Provides Operational Update 155
19.6.27 Nov 15, 2007: COSL's PT COSL INDO Renews Drilling Service Contract With CNOOC SES 155
19.6.28 Aug 06, 2007: CNOOC Signs PSC With SPC 156
19.6.29 Feb 05, 2007: Primeline Provides Operations Update 156
19.6.30 Jul 10, 2006: CNOOC Makes New Discovery In Bohai Bay 157
19.7 New Contracts Announcements 157
19.7.1 Oct 13, 2008: Awilco Signs LoI With CNOOC For Two Year Drilling Program In China 157
19.7.2 Oct 08, 2008: Petronas Signs Agreement To Supply LNG For CNOOC's Shanghai Terminal 157
19.7.3 Sep 26, 2008: Songa Signs Contract For Songa Saturn With CNOOC 157
19.7.4 Apr 10, 2008: Qatargas Signs HOA With CNOOC To Supply LNG 158
19.7.5 Mar 25, 2008: COSL Signs Service Contract Worth $56 Million 158
19.7.6 Feb 21, 2008: Primeline Announces Petroleum Extension Contract With CNOOC 158
20 Appendix 160
20.1 What is this Report About' 160
20.2 Methodology 160



20.2.1 Coverage 161
20.2.2 Secondary Research 162
20.2.3 Primary Research 162
20.2.4 E&P Forecasts 162
20.2.5 Midstream Forecasts 165
20.2.6 Expert Panel Validation 165
20.3 Contact Us 166
20.4 About Global Markets Direct 166
20.5 Disclaimer 166

1.2 List of Figures
Figure 1: CNOOC Limited, Liquefaction Capacity Country - Wise (Million Tonnes), 2000-2012 14
Figure 2: CNOOC Limited, Regasification Capacity Country - Wise (Bcf), 2000-2012 16
Figure 3: CNOOC Limited, Value Chain Analysis 48
Figure 4: CNOOC Limited, Deals Volume Summary, 2004 to YTD 2008 68
Figure 5: CNOOC Limited, Deals Summary by Region, 2004 to YTD 2008 69
Figure 6: Global Markets Direct Methodology 161



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CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals

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CNOOC Limited Detailed Analysis and Forecasts of LNG Terminals