China Sea Oil Co., Ltd. (“China Sea Oil”) announced its 2023 results. In the face of downward pressure in the global economy and a significant drop in international oil prices, the company promoted high-quality development, reserve production reached a record high and profit levels remained high. The Chairman of the Company, Wang Dongjin, on behalf of the Board of Directors, expressed his gratitude to shareholders and reviewed the company's achievements in oil and gas exploration, production growth, technological innovation and more over the past year. The company achieved a net oil and gas production of 678 million barrels of oil equivalent, reaching a record high for five consecutive years. The Company proposes to pay a final dividend of HK$0.66 per...Show More

China Sea Oil Co., Ltd. (“China Sea Oil”) announced its 2023 results. In the face of downward pressure in the global economy and a significant drop in international oil prices, the company promoted high-quality development, reserve production reached a record high and profit levels remained high. The Chairman of the Company, Wang Dongjin, on behalf of the Board of Directors, expressed his gratitude to shareholders and reviewed the company's achievements in oil and gas exploration, production growth, technological innovation and more over the past year. The company achieved a net oil and gas production of 678 million barrels of oil equivalent, reaching a record high for five consecutive years. The Company proposes to pay a final dividend of HK$0.66 per share for 2023. Financially, the company's operating income was RMB416,609 million, a slight decrease from the same period last year. Costs such as operating expenses, depreciation, depreciation and amortization have all increased. THE COMPANY MAINTAINED A PRUDENT FINANCIAL POLICY, WITH FREE CASH FLOW OF RMB889 BILLION AND A YEAR-END CAPITAL LIABILITY RATIO OF 15.2%. Looking ahead to 2024, the company will maintain its oil and gas storage capacity, promote technological innovation, promote energy green transformation, and implement energy efficiency upgrades. The announcement date is 21 March 2024.