Safety and Environmental Protection

Ensuring safety and minimizing the environmental impact are integral to the Company’s sustainable growth. All along, the Company has upheld the HSE core value concepts of “Safety First, Environment Paramount, Focus on People, and Equipment Integrity”. The Company actively copes with the challenges that its safety production and environmental protection work encounter in a low oil price environment and keeps improving its HSE system management. It cultivates an unique HSE culture with its own characteristics. It works hard to provide both its staff and its contractors with a safe working environment, and to foster first-rate management abilities in production safety.

Climate change has become a noticeable issue in society today which cannot be ignored. To address this issue, CNOOC Limited is following closely national policies on carbon trade and energy conservation and emission reduction, and actively exploring effective approaches to cut greenhouse gas emissions.

Energy Conservation

As an enterprise in energy production and supply, CNOOC not only endeavors to supply adequate clean energy for social development but also consistently implements energy conservation efforts in all facets of its corporate production and operation businesses. The Company has constantly improved its systems and mechanisms for energy conservation, formed a set of complete management systems for energy conservation, and incorporated them into its corporate risk management and control system. The Company attaches great importance to the management and control of energy conservation efforts, carried out strict evaluations and examinations of energy conservation in new, revision, and expansion projects, and has ensured that the newly implemented projects reach an advanced level. At the same time, the Company has continued to adopt such measures as intensifying fine management, optimizing process, and production operations, and conducting reforms in energy-conserving technologies. In 2016, the comprehensive energy consumption per unit of oil and gas production was 0.0470 tons of standard coal, and the amount of energy conservation was 159,000 tons of standard coal. Meanwhile, the Company actively participated in green energy saving initiatives, and encouraged employees to go out on green trips, to consume in a green way, and constantly boosting their knowledge and awareness of environmental protection.

Emissions Reduction

Premised upon “green development and low-carbon innovation,” CNOOC has always advocated a green and low-carbon style of production, life, and consumption. As such, CNOOC controls the energy consumption of new projects from the source, deeply digs into the energy-saving potential of its facilities, makes plans for regional energy allocation as a whole, continuously inputs special funds, and promotes energy conservation and emission reduction by virtue of technical progress; it also carries out energy conservation and emission reduction work in the various facets of its business, like production, product circulation, and consumption through management information systems for energy conservation and emission reduction.

Carbon Management

CNOOC Limited will proactively face new policies and new situations, organizing thorough carbon examinations in accordance with the 24 newly released regulations. In 2016, the total CO2 emissions of the Company were 7,095,695 tons, of which the total amount of direct GHG emissions (scope I) was 6,735,400 tons, accounting for 94.9%. The total amount of indirect GHG emissions (scope II) was 360,295 tons, accounting for 5.1%. The amount of CO2 emission from production of oil and gas per ton was 0.12 tons.

Increase Supply of Clean Energy

As the issue of climate change gains more weight in the international community, the influence of the Paris Agreement will gradually expand. As such, it looks like the pursuit of green and environment practices is here to stay. Natural gas development and exploration is one of the Company’s three development strategies. In 2016, the Company continually developed regular natural gas business. In the western South China Sea, the Company successfully appraised Lingshui 25-1 gas field and made breakthroughs in the deep gas exploration of Southeast Hainan Basin. As at the end of 2016, the Company’s net proven natural gas reserves reached 8,060 billion cubic feet. It now supplies 1,276 million cubic feet of natural gas per day to society.

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