CNOOC Release 2025 Environmental, Social and Governance Report

09 Apr CNOOC Release 2025 Environmental, Social and Governance Report

(Oilandgaspress) – The Report released today in Hong Kong Promises to;

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Adhere to efficient governance and solidify the foundation for development

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Fulfill social responsibility and share the benefits of development

Faced with profound adjustments in the global energy market and fragmentation of the climate governance landscape, CNOOC Limited adheres to the principle of pursuing progress while maintaining stability, and embeds ESG concepts into development strategy and the entire process of operation. ESG governance has been improved to safeguard the Company’s high-quality growth. In 2025, the Company received numerous domestic and international accolades, including the “Corporate Sustainability Leadership Awards – Gold Award” from The Asset magazine and the “China Listed Company Value Awards ESG” from Securities Times, reflecting broad stakeholder recognition of the Company’s high-quality development achievements. 

CNOOC Limited is committed to efficient governance. The Company endeavors to improve decision-making through building a diversified Board of Directors and enhancing the directors’ capabilities. ESG-related mechanisms are optimized. Ten key tasks have been completed, including ESG indicator system optimization and climate-related disclosure studies. The Company continues to enhance its risk management and internal compliance systems. Due diligence reviews on ESG issues are conducted. Audits on risk management processes are carried out on a regular basis. All employees have signed the Letter of Commitment on Compliance. Anti-commercial bribery and anti-corruption trainings are arranged to ensure sound corporate governance.

CNOOC Limited is steadily advancing green transition. The Company continues to optimize its product mix and enhances the capacity of clean energy supply. CNOOC Limited adheres to green and low-carbon production throughout the entire process. Energy efficiency has been improved. The application of shore power has been expanded, driving the consumption of green electricity to 1.08 billion kWh in 2025. Flare gas recovery has also achieved remarkable progress. Integrated development of hydrocarbon and renewable businesses has continued. The Company has made solid progress in offshore wind resource acquisition. Hainan CZ7 wind farm project and the world’s first 16-MW Tension Leg Platform (TLP) floating wind power project are advancing in an orderly manner. Carbon-negative sectors are fostered. The Company has led the development of two national offshore CCUS standards, and successfully commissioned China’s first offshore CCUS demonstration project at Enping 15-1. Offshore trials for deep-sea CO₂ hydrate solidification and sequestration have been carried out to explore “shore-to-sea carbon sequestration” potentials. The preliminary research on oil-gas-electricity-hydrogen-carbon comprehensive energy demonstration project has started. CNOOC Limited adheres to technology-led development. Its annual R&D expenditure registered a 22% year-on-year increase. Digital and intelligent transformation is advanced. The unmanned rate of offshore platforms has been increasing steadily. “Shenhai-1” gas field is selected into China’s first batch of pioneer-class smart factory cultivation list.

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