CNOOC Projects Rise In 2012 Output

CNOOC Ltd

announced its plans to produce 2.4% more oil and gas in 2012. CNOOC expects to produce 330 to 340 million barrels of oil equivalent (boe) this year, versus projected output of 331 to 332 million boe in 2011. In August last year, CNOOC cut its 2011 output forecast from 355 to 365 million barrels of oil equivalent to 331 to 341 million. CNOOC shares closed at $201.11 yesterday.