CNOOC also plans to pace up the development of oil and natural gas in the South China Sea and of other businesses related to natural gas, such as power generation and chemical products.
Reportedly, CNOOC and Husky Energy Inc. have discovered a gas field in the South China Sea with potential reserves of above 150 billion cubic meters.
CNOOC presently dominates the liquefied natural gas (LNG) market in the Pearl River Delta and has partnered for LNG business with nations like Indonesia, Malaysia and Australia.
