untitled

CEO00883 (ADRs) CNU 43.2 1,358,022 6,644

2 3 6 8 9 10 11 12 17 17 18 19 23 24 25 27 44 51 61 66 67 68 69 70 71 132 145 151 152

240,944 247,627 285,857 274,634 171,437 (150,337) (160,486) (207,354) (193,719) (153,981) (511) (601) (2,365) (3,701) (5,245) 567 (27) 895 1,006 1,903 1,828 2,392 2,611 2,684 2,398 92,565 90,172 80,851 82,513 17,130 (22,310) (26,481) (24,390) (22,314) 3,116 70,255 63,691 56,461 60,199 20,246 131,923 170,894 146,552 140,708 140,211 220,567 252,132 419,102 463,222 454,141 22,997 24,017 24,397 25,250 28,413 1,033 973 17,000 16,491 16,423 384,264 456,070 621,473 662,859 664,362 (70,216) (82,437) (128,948) (103,498) (84,380) (51,192) (63,853) (150,905) (179,751) (193,941) (121,408) (146,290) (279,853) (283,249) (278,321) 262,856 309,780 341,620 379,610 386,041 2

598,590 615,122 610,435 626,791 761,019 405,682 411,642 392,413 403,927 477,904 72,006 72,672 75,606 80,493 89,958 120,563 130,266 141,545 141,166 190,525 339 543 872 1,206 2,632 83,993 104,623 279,409 305,345 338,440 17,427 14,883 28,997 37,237 45,640 5,382 4,846 4,533 4,297 3,350 56,348 56,998 77,343 76,838 83,677 ** 4,836 27,896 44,245 49,814 54,692 39,872 48,183 46,712 83,460 87,918 103,258 960 1,058 1,110 682,583 719,745 889,845 932,137 1,099,459 689.9 663.1 634.5 643.3 731.9 123.0 123.9 127.4 137.9 136.9 390.4 364.1 330.5 341.7 314.3 157.8 148.8 151.4 136.8 234.9 18.7 26.3 25.2 26.8 45.8 345.3 308.6 482.7 546.6 482.1 218.7 157.8 140.3 154.4 140.0 101.1 101.1 98.2 111.2 93.5 ** 25.6 49.7 109.5 112.7 134.6 106.0 117.5 68.4 28.7 50.7 45.5 1,035.2 971.7 1,117.1 1,189.9 1,214.0 715,219 727,287 717,784 735,533 884,346 426,190 432,285 413,650 426,913 500,719 138,712 135,007 132,284 138,972 143,676 146,864 155,070 166,778 163,970 229,679 3,453 4,925 5,072 5,678 10,271 144,511 161,561 365,010 401,804 423,319 53,872 43,752 54,529 65,280 70,987 25,195 24,628 23,909 26,092 21,673 56,348 56,998 77,343 76,838 83,677 ** 9, 096 36,183 62,496 68,396 76,915 57,534 67,770 58,115 88,241 96,370 110,842 960 1,058 1,110 859,730 888,848 1,082,795 1,137,337 1,307,664 25,704 23,020 22,758 23,510 24,588 136.5 138.0 130.2 140.2 149.6 49,270 46,767 45,173 47,640 50,357 909,000 935,615 1,127,967 1,184,977 1,358,022 3

* 1,584.7 1,665.7 1,692.6 1,691.6 1,430.6 1,000.4 1,067.2 1,087.6 1,111.7 908.3 250.5 224.8 228.3 210.0 149.3 316.1 354.0 357.0 351.9 357.0 17.7 19.8 19.8 18.0 16.1 384.6 515.0 1,367.8*** 1,348.2*** 1,399.6*** 81.8 65.0 83.6 47.4 59.8 19.0 16.7 15.9 16.6 14.5 133.7 135.7 155.4 142.5 166.6 ** 150.1 297.6 175.0 209.3 239.5 770.3 781.4 815.3 166.0 149.1 102.3 1.7 1.8 1.6 1,969.3 2,180.7 3,060.4 3,039.8 2,830.2 4,139.5 4,459.1 4,475.6 4,756.8 5,354.6 596.2 592.5 552.9 480.8 381.4 2,017.2 2,384.9 2,505.4 2,318.1 3,132.6 1,222.4 1,175.7 1,114.2 1,029.6 951.6 303.7 305.9 303.1 928.3 889.0 1,487.9 1,546.3 1,847.7 1,974.0 1,638.3 848.7 800.4 889.4 861.2 845.8 467.8 409.5 386.0 455.7 389.2 ** 171.4 336.4 349.6 403.9 275.2 195.0 233.0 119.3 27.8 20.2 8.8 5,627.4 6,005.3 6,323.3 6,730.8 6,992.9 2,274.8 2,408.9 2,442.3 2,486.8 2,324.3 1,099.8 1,165.9 1,179.7 1,191.8 971.8 586.7 622.2 649.6 598.7 672.6 519.9 550.0 542.7 523.5 515.6 68.4 70.7 70.4 172.7 164.2 646.3 793.7 1,696.4 1,698.3 1,691.7 223.2 207.5 240.6 199.4 208.9 110.7 96.8 92.0 106.0 90.8 133.7 135.7 155.4 142.5 166.6 ** 178.7 353.7 233.2 275.9 284.8 802.8 820.2 835.2 170.6 152.5 103.8 1.7 1.8 1.6 2,921.1 3,202.6 4,138.7 4,185.0 4,016.0 196.3 200.7 199.3 200.4 200.1 442.0 513.7 519.9 537.3 576.9 269.0 289.3 288.9 293.0 299.5 * 3,190 3,492 4,428 4,478 4,315.5 4

9.3 9.8 10.5 10.1 8.4 9.6 10.2 10.8 10.4 8.7 (%) 167 187 337 111 65 (%) 158 188 327 112 67 109.75 110.48 104.60 96.04 51.27 5.15 5.77 5.78 6.44 6.39 * 23% 36% 52% 52% 62% SEC ** 15% *** 749.9 31.4815.3 5

38% 495.7 14.6%7 20-2 6-4 Libra 6

7 39.82 2015 250 0.25

業務 回顧 8 中國海洋石油有限公司 二零一五年年報

業務回顧 中國海域約 85.7% 的淨證實儲量和約 73.8% 的淨產 量來自自營油氣田 產品分成合同 公司的控股股東中國海洋石油總公 司 中國海油 擁有與外國石油公司簽訂產品分成 合同 在中國海域合作勘探開發石油天然氣的專營 權 中國海油已將其所有產品分成合同的除國家公 司管理和監管職能以外的權利和義務轉移給公司 其未來新簽的產品分成合同也將轉移給公司 在海外 經過多年的海外發展 中海油已經基本完成全球 資產佈局 海外資產佔公司總資產的 50% 以上 目前 公 司主要在印度尼西亞 澳大利亞 尼日利亞 烏干達 阿 根廷 美國 加拿大 英國和巴西等國家的油氣區塊持有 權益 二零一五年 世界經濟增長乏力 中國經濟下行壓力仍然 較大 國際油價繼續低位運行 整個油氣行業和公司均面 臨嚴峻的市場形勢和經營環境 為此 公司繼續深入開展 質量效益年 活動 採取了行之 有效的應對措施 保持了健康可持續發展的良好勢頭 李凡榮 首席執行官 概覽 中國海洋石油有限公司是一家專注於油氣勘探 開發和生 產的上游公司 公司是中國海上主要油氣生產商 以儲量 和產量計 也是世界最大的獨立油氣勘探開發公司之一 截至二零一五年底 公司共有淨證實儲量約 43.2 億桶油當 量 含權益法核算的淨證實儲量約 3.0 億桶油當量 二零 一五年 公司油氣淨產量達到 1,358,022 桶油當量 天 含 權益法核算的淨產量約 50,357 桶油當量 天 在中國海域 公司通過自營作業及以產品分成合同的形式 與外國合作夥伴合作 在渤海 南海西部 南海東部和東 海等區域進行油氣勘探 開發和生產活動 截至二零一五 年底 公司約 53.9% 的淨證實儲量及約 65.2% 的產量位於 中國海域 自營作業 在中國海域 公司主要通過自營勘探和 開發 增加儲量和產量 截至二零一五年底 公司 二零一五年 公司堅持貫徹年初制定的經營策略 即 保 持謹慎的財務政策和投資決策 加強成本控制 持續提高 質量和效益 確保安全合規地運營好現有的在產項目 保 質保量地建設好已經投入開發的在建項目 二零一五年 公司大幅削減了資本支出 在此情況下 公 司克服種種困難 圓滿完成了各項生產經營任務 公司保 持了合理的勘探支出和飽滿的勘探工作量 並取得豐碩成 果 年初計劃的 7 個新項目均已順利投產 全年油氣生產 目標圓滿完成 淨產量達 495.7 百萬桶油當量 同時穩步 推進在建項目建設 全年在建項目超過 20 個 以支持未來 的可持續發展 桶油主要成本為 39.82 美元 桶油當量 連續兩年下降 公司實現淨利潤人民幣 202.5 億元 保持 了穩健的財務狀況 與此同時 健康安全環保形勢保持平 穩 展望二零一六年 世界經濟仍然復蘇乏力 國際油價持續 低迷 外部經營環境依然嚴峻 為此 公司堅定信心 沉 著應對 進一步強化了我們低油價下的經營策略 主要包 中國海洋石油有限公司 二零一五年年報 9

600 470-485 4 1.30 1.65123 1914 20 45-67% 67% 6-416-316-3 34-9 20-221-2 43,068 73,388 55,424 85,413 257,292 10,885 5,797 33,333 6,801 795 18-1 25-1 34-1N 17-2 REZ Ukot South 3MAS OGB Libra 7,674 65,285 322,577 10

18 32 3 0 7 0 28 0 0 0 1,780 0 20 7 1 0 2 0 2 0 5,368 0 4,014 0 16 15 3 0 5 0 7 0 6,611 0 7,984 1,441 1 5 2 0 0 0 4 0 1,017 0 1,294 0 55 59 9 0 14 0 41 0 12,996 0 15,072 1,441 0 0 8 5 0 2 0 5 0 3,792 0 0 55 59 17 5 14 2 41 5 12,996 3,792 15,072 1,441 20 7 495.7 14.6%475-495 9-328/34 10-11-110-1 11-4 12-2 11

4 10-4 11-56-9/6-10 18-110-4 20 ODP 971.8 500,719 22.5% 36.9% 1030 7 7-616-36-131-329-4 35-234-1 12

13 6-434-916-3 16-334-1 29-127-3 10-16-126-320-526-3 19-46-416-316-3 34-9 34-1 9-332-6 10-1 28/34 10-1 40120 672.6 143,676 15.6% 10.6% 5 16-117-516-918-1 18-2 18-2 5 16-916-16-817-525-1 25-1 16-9 16-117-5 1-1 12-2 11-4 100300 515.6 229,679 11.9% 16.9% 220-221-2, 228-214-4 13

14 3-1 90 3.8% 0.9% 208.9 70,987 4.8% 5.2% 13.90% 63.75% 2.8 90.821,673 2.1% 1.6% 5.3% 166.6 83,6773.9% 6.2% OML13045%OML130 Akpo Egina EginaPreowei Akpo6.4 Egina FPSO

Nexen Petroleum Nigeria Limited OML138Usan20% Nexen Petroleum Nigeria Limited Ukot SouthNexen Petroleum Exploration & Production Nigeria Limited Nexen Petroleum Deepwater Nigeria Limited OPL223 OML13918% UsanOML130 EA 1 EA 2 EA 3A 1/3EA 1 EA 2 EA 3A 3A Kingfisher (Pre-FEED) 12 Kingfisher (FDP/PRR) REZ MEG 1,120.0 135,030 26.0% 10.0% 33.3% 6.0 Nexen Energy ULC Stampede Appomattox 100% Syncrude 7.23%25% 3.0 MEG12.39% MEG Northern Cross (Yukon) Limited60% Yukon 15

2C12.5% 3A 12.75%2C Bridas CorporationBridas 50% Libra10% Bridas 50% 299.4 49,884 6.9% 3.7% Bridas 50% Bridas(Pan American EnergyPAE 40%100% AXIONBridas Bridas4.9 Libra10% 1,550 2,000 Libra Libra 103.8 110,842 2.4% 8.2% 43.2%36.5% 7.2 16

17 Nexen Energy ULC BrentWTI 51.27 46.6% LNG 6.39 0.8%

18-1-1 35-2 27-2 COSO Committee of Sponsoring Organizations of the Treadway Commission ISO 31000 2009 COSO 2015 2015 12 31 18

19 (OECD) 2015 10(BEPS Project) 15

20 (HSSE) HSSE HSSE HSSE

21 20121934 2015 (COSL)2014 2009 2015 12 31 55.0% IT IT IT 64.44%

22

23 HSE QHSE QHSE HSE 12.9 HSE HSE HSE HSE HSE 5,000 21,900 HSE

OSHA (Occupational Safety and Health Administration)HSE 44 20 0.09 3 0.01 0 124 68 0.11 15 0.02 0 14 20 3 3-1 24

44 60 2015 25

61 800 5700 3000 3500 55% 500 7% HSE 26

2015 2015 2015 A. A.1 44 50 152 7 0 7 0 1 2 0 7 0 2 6 1 3 5 0 7 0 7 0 7 0 G. 7 0 27

1 2 3 A.2 28

A.3 3.13 29

A.4 A.5 G. 152 (1) (2) (3) 3.08 3.09 3.13 A.4.3 30

42 A.5.6 ( 31

1 1 0 2 1 0 2 0 G. 2 0 1 2 A.6 32

1 1 1 0 1 1 2 1 1 1 1 G. 1 1 2 4450 A.7 33

B. B.1 152 93 94 9395 910 34

C. C.1 61 65 404 2 0 2 0 2 0 35

132 144 C.1.3 66 C.2 COSO ISO 31000:2009 COSO 36

C.3 152 (a) (b) (c) (d) 37

(e) (i) (ii) (iii) 38

40 4 0 4 0 4 0 D. D.1 39

(i) (ii) (iii) D.2 D.3 (i) (ii) (iii) (iv) E. E.1 40

E.2 F. 4950 60566568 622 5% 41

42 1 65 622615 616 622 580 583 A.4.1 A.4.1 A.4.1 A.4.1 A.4.1 9797 97 13.51(B)

43 46.7 45.2 8.7 8.5 2.1 0.6 7.0 2.5 303A.11 303A.11 http://www.cnoocltd.com/encnoocltd/gsgz/socg

1 4 5 7 2 1 2 8 3 6 3 4 5 6 7 8 G. 44

45 MBA CACT Nexen Energy ULC

46

G. (Mount Allison University) (University of Manchester) (McMaster University) (Offi cer of the Order of Canada) (University of King s College) (University of Waterloo) (Killam Trusts) (Communitech) Empire Company Limited (Sobey s) 47

48 EMBA Heriot-Watt

49 Heriot-watt Expro 10-3 2-1-3

50 49 CACT Nexen Energy ULC LG

51 2 826 61 65 ODP 2015

52 OSHA 2015 826 6 7826 38 10911126 100101 14 78,368 69130 13139 102106 16 17 18 0.25 0.25

53 120 31 15% 42% 9% 21% 5% 47 1 2 3 (1) (2) (a) 150.00 161.00 172.00 (b) 472.00 496.00 521.00 (c) 105.00 116.00 128.00

(d) 14.08 18.75 20.75 (e) FPSO 14. 50 21.80 23.50 1.00 1.00 1.00 (a) (b) 3,467.00 4,386.00 5,044.00 307.00 389.00 447.00 220 (i) (ii) (a) (b) (c) (d) (e) 161.00 496.00 116.00 18.75 FPSO 21.80 1.00 54

(iii) (a) 4,386.00 1. (iv) (b) 389.00 220 1. 2. 3. 4. 11511930 2. 3. 4. 113 11428 112 28 55

* 1,610,000 (1,610,000) 5.62 5.75 1,770,000 1,770,000 5.56 5.30 1,857,000 1,857,000 7.29 7.43 1,857,000 1,857,000 14.828 14.20 1,857,000 1,857,000 9.93 9.33 1,857,000 1,857,000 12.696 12.22 1,610,000 (1,610,000) 5.62 5.75 1,770,000 1,770,000 5.56 5.30 1,857,000 1,857,000 7.29 7.43 1,857,000 1,857,000 14.828 14.20 2,835,000 2,835,000 9.93 9.33 2,000,000 2,000,000 12.696 12.22 56

* 24,850,000 (24,850,000) 5.62 5.75 34,940,000 (1,310,000) 33,630,000 5.56 5.30 40,576,000 (1,374,000) 39,202,000 7.29 7.43 49,875,000 (3,471,000) 46,404,000 14.828 14.20 62,865,000 (6,006,000) 56,859,000 9.93 9.33 75,341,000 (8,361,000) 66,980,000 12.696 12.22 311,184,000 (20,522,000) (28,070,000) 262,592,000 * 57

1 2 G. 1 2 A. Jeremy Arnold Admiral Timothy J. Keating, USN (Ret.) Alan O Brien Alan W. Brindley Anita R. Koval Archibald W. Kennedy Bastiaan Spaargaren Caroline Hoogsteyns Cathleen A.L. Ward Christine M. O Connor Colin T. O. Brewer Corey D. Riley Daniel J Dengis Danny R. Carefoot Darren C. Jones Darren Craig Jones David O. Tudor Deanna L Zumwalt EQ Management and Consultancy Limited Eva A. Törzsök Frances Ward Gina A. Barber Glenn R Christie Grant W. Dreger Gregg E. Radetsky Ian M. Smale Ildiko G. B. Ugrai Jacqueline J. Loke Mun-Tze James T. Arnold Jamie D. Doyle Jerome A. van Zuijlen Jessica Lanzillotta John A. Pritchett John F.M. Abbott John Michael Killip Joseph M. B Oris Karen Burgess Katarzyna Kopaczewska Kenneth J. Krieg Kurt Rohner Lawson A.W. Hunter Lester C. Jager Lewis T. Harvey Marilyn J. Schonberner Marjorie Allo Paul Harris Peter D. Addy Quinn E. Wilson Ray C. J. Riddoch Rick C. Beingessner Robert H. Henkhuzens Robert N. Fennell Ronald W. Bailey Rosalind L. Bynoe Roy L. Swystun Sei Tange SGG Management (Netherlands) B.V. Shakila Kaul Shoji Sorimachi Simon R. Perchard Theresa A. Roessel Tiara Ltd. Trevor L. Norman Una M. Power W. Mark Simpson Wilhelmus G. Reiff Yehuda Cohen (i)xv7 8 (ii) 352 (iii) 58

1,150,000 0.003% (i)xv7 8 (ii)352 (iii) XV2 3 (i) CNOOC (BVI) Limited 28,772,727,268 64.44% (ii) Overseas Oil & Gas Corporation, Ltd.OOGC 28,772,727,273 64.44% (iii) 28,772,727,273 64.44% CNOOC (BVI) Limited OOGC OOGCCNOOC (BVI) Limited OOGC XV2 3 10% 59

60 44 50 93959 10 A.4.1 2743 35.56% 44,647,455,984 8.07 13.39(4)

61 55.0% 2015 GDP6.9%25 7% WTI 48.6847.7% Brent 53.6046.1% 495.7 14.6% 7

146,597 23,551.6 6.2245)32.8% 20,246(3,252.6 66.4% 0.45 0.45 0.25 826 20,246 3,252.660,199 66.4% % 146,597 218,210 (71,613) (32.8%) 128,929 200,991 (72,062) (35.9%) 17,668 17,219 449 2.6% 480.1 415.6 64.5 15.5% 404.0 340.6 63.4 18.6% 444 435 9 2.1% 51.27 96.04 (44.77) (46.6%) 6.39 6.44 (0.05) (0.8%) 495.7 432.5 63.2 14.6% 323.4 269.1 54.3 20.2% 172.3 163.4 8.9 5.4% 495.7 432.514.6% 28,372 4,558.131,180 9.0%59.4 9.55 75.112.22 20.9% 49.5 7.9660.4 9.83 18.0% 80.212.88 102.116.61 21.4% 62

63 10,770 1,730.311,842 9.1% 9,9001,590.5 11,525 14.1%4,740761.5 5,686 16.7% 73,439 11,798.458,286 26.0% 146.4 23.53 130.921.30 11.8% 3,545569.5 3,95110.3% 9.521.55 7.431.19 22.0% 59 (9.519,072 99.7% 65 2,746 441.24,120 33.3% 1,400461 14 5,705 916.56,613 13.7% 15.93 (2.59 11.95 (1.92 24.9% 6,118982.9 4,774 28.2% 873140.3 1,073 18.6% 14323.0 1,049 113.6%

2,398 385.3 2,684 10.7% 1,903 305.71,006 89.2% 114.0% 62%50% 27.0% (18.2%) 3,116 500.6 22,314 % 80,095 12,867.7 110,508 (30,413) (27.5%) (76,495) (12,289.3) (90,177) 13,682 (15.2%) (6,893) (1,107.4) (19,486) 12,593 (64.6%) 80,095 12,867.7110,508 27.5% 67,67410,872.2 29.3% OML130 122,03019,604.8 104,900 16,852.8 4,825775.2 20,5413,300.0 23,1843,800.0 20,4193,280.4 24,1273,876.1 164,645 26,451.1 136,563 38 29.9%26.5% 64

42,839 49,128 25,187 12,012 13,718 9,515 37 33 54,851 62,845 34,702 28,315 33,403 25,957 6,216 9,455 5,201 34,531 42,858 31,158 89,383 105,704 65,860 2013201420152,049 1,8421,385 14,956 5,131 498 65

67 131 405 66

5 146,597 218,210 34 21,422 50,263 3,418 6,161 171,437 274,634 (28,372) (31,180) 11(ii) (10,770) (11,842) (9,900) (11,525) 7 (73,439) (58,286) 6 (59) (19,072) 14 (2,746) (4,120) (19,840) (47,912) (5,705) (6,613) (3,150) (3,169) (153,981) (193,719) 17,456 80,915 7 873 1,073 8 (6,118) (4,774) (143) 1,049 7 2,398 2,684 256 232 1,647 774 761 560 7 17,130 82,513 11(i) 3,116 (22,314) 20,246 60,199 19 (2,301) 7,979 454 74 92 19 (1,573) 134 (268) 6,614 (2,023) 26,860 58,176 13 0.45 1.35 13 0.45 1.35 12 67

14 454,141 463,222 15 16,423 16,491 17 4,324 4,100 18 24,089 21,150 19, 34 5,337 19, 34 3,771 11 (i) 13,575 5,877 20 7,828 5,974 524,151 522,151 21 9,263 10,608 22 21,829 29,441 34 7 303 19, 34 54,030 19, 34 14 19, 34 71,806 7,415 8,573 23 18,010 22,835 23 11,867 14,918 140,211 140,708 26 33,585 31,180 24 32,614 52,192 34 316 25 13,534 11,499 4,647 8,311 84,380 103,498 55,831 37,210 579,982 559,361 26 131,060 105,383 27 49,503 52,433 11 (i) 11,627 20,189 1,751 1,746 193,941 179,751 386,041 379,610 28 43,081 43,081 29 342,960 336,529 386,041 379,610 68

949 42,132 (21,372) 20,000 8,974 279,668 11,269 341,620 60,199 60,199 454 (2,477) (2,023) 454 (2,477) 60,199 58,176 ** 42,132 (42,132) (71) (11,269) (11,340) (8,846) (8,846) (11,325) 11,325 43,081 * (20,918)* 20,000* 6,497* 319,625* 11,325* 379,610 43,081 (20,918) 20,000 6,497 319,625 11,325 379,610 20,246 20,246 7,979 (1,365) 6,614 7,979 (1,365) 20,246 26,860 58 (11,325) (11,267) (9,162) (9,162) (9,397) 9,397 43,081 * (12,939)* 20,000* 5,132* 321,370* 9,397* 386,041 * 342,960336,529 ** 622 69

32 96,095 142,682 (16,000) (32,174) 80,095 110,508 (67,674) (95,673) (9) 4,825 3,383 164 153 32 812 1,041 2,177 2,331 (105,718) (122,030) (236) 102,587 104,900 544 1,719 (76,495) (90,177) 23,184 24,578 (789) 20,541 12,789 (24,127) (32,523) (20,419) (20,216) (5,283) (4,114) (6,893) (19,486) (3,293) 845 14,918 14,318 242 (245) 23 11,867 14,918 70

1. 1 65 2.1 622 622 622 32 622 2.2 9 (2009) 9 (2009) 9 (2009) 9 (2009) 9 (2009) 9 (2009) 7 39 9 (2009) 9 (2009) 71

2.2 9 (2009) 9 (2009) 39 9 (2009) 9 (2009)(i) (ii) 18 39 39 9 (2009) 9 (2009) (i) (ii) (iii) (iv) 2,958 39 2,258 39 134 39 5,45348,564 39 72

2.2 9 (2009) (v) (vi) 39 39 39 9 (2009) 39 9 (2009) 39 9 (2009) MEG MEG19 2,958 2,958 19 19 134 134 2,258 2,258 34 303 303 19 19 22 5,453 5,453 48,564 48,564 29,411 29,411 23 22,835 22,835 23 14,918 14,918 20 3,981 3,981 8,573 8,573 73

2.2 9 (2009) 9 (2009) 39 9 (2009) 0.41 9 9 (2014) 1 14 14 2 15 15 7 16 5 11 11 3 1 1 3 16 16 3 38 38 2012-2014 3 27 27 3 10 10 28 28 4 7 6 12 6 1 9 (2009) 2 3 4 5 6 7 74

3. 92009 39 75

3. 76

77 3. (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i)

3. (a) (b) 78

3. NWS 3939 79

3. (a) (b) (c) (d) 1) 2) 80

3. (a) (b) (a) 9 (2009) 81

3. (c) 9 (2009) 18 34 82

3. (a) (b) (c) (i) (ii) a) b) 83

3., (a) 84

3. (b) 85

3. (a) (b) (c) 86

3. (d) (e) 28 87

3. (a) (b) 88

3. (c) (d) (e) 4. (a) (b) 89

4. (a) 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 137,243 208,361 33,777 65,643 417 630 171,437 274,634 * 12,339 15,380 (12,339) (15,380) 85 242 (85) (242) 149,582 223,741 21,438 50,263 502 872 (85) (242) 171,437 274,634 15,695 54,846 879 983 6,048 4,620 (2,376) (250) 20,246 60,199 (28,372) (31,180) (28,372) (31,180) (10,748) (11,802) 7 (29) (40) (10,770) (11,842) (9,973) (11,680) 73 155 (9,900) (11,525) (72,665) (57,407) (324) (417) (509) (484) 59 22 (73,439) (58,286) (2,690) (4,147) (56) 27 (2,746) (4,120) (3,644) (3,651) (340) (862) (1,733) (2,166) 12 66 (5,705) (6,613) 147 125 1 1,028 1,801 (302) (854) 873 1,073 (3,407) (2,813) (1) (3) (3,369) (2,997) 659 1,039 (6,118) (4,774) (117) 12 2,020 994 1,903 1,006 44 (24,903) (8) (114) 3,080 2,703 3,116 (22,314) 800 953 27,613 24,297 28,413 25,250 532,765 524,702 3,336 8,671 344,037 368,648 (244,189) (264,412) 635,949 637,609 533,565 525,655 3,336 8,671 371,650 392,945 (244,189) (264,412) 664,362 662,859 (364,056) (381,342) (2,243) (7,142) (145,475) (111,311) 233,453 216,546 (278,321) (283,249) 66,122 106,593 11 16 386 794 66,519 107,403 * (b) 73%65% 10% 90

4. (b) 2015 2014 2015 2014 2015 2014 2015 2014 193,359 206,144 105,383 101,644 155,399 155,434 454,141 463,222 3,499 3,317 816 783 24,098 21,150 28,413 25,250 7,087 5,246 694 643 47 85 7,828 5,974 (c) 14,692 25,055 30(iii) 5. 150,618 227,544 (2,646) (6,433) (1,375) (2,901) 146,597 218,210 6. 20% 40%40 5565 5 91

7. (873) (1,073) (2,684) (2,398) (2,398) (2,684) (560) (334) 45 47 12 18 57 65 6,924 8,751 72,293 57,212 1,306 1,398 (160) (324) 73,439 58,286 438 508 2,448 1,741 2,886 2,249 5,034 6,342 1,629 1,821 718 (1,158) 8. 291 415 4,701 3,813 76 1 5,068 4,229 14 (1,385) (1,842) 3,683 2,387 27 2,435 2,387 6,118 4,774 0.735% 7.875% 0.64775% 7.875% 92

9. (i) (1) (1) (1) 170 470 117 757 170 470 117 757 340 940 234 1,514 (2) (2) (3) (3)(5) 899 899 763 763 899 899 G. (6) 763 763 3,324 3,324 3,324 340 940 234 4,838 753 78 831 753 70 823 1,506 148 1,654 (2) 840 840 (2) 753 753 (3) 753 753 (3) (4) 690 690 (3)(5) 753 753 3,789 3,789 887 887 753 753 887 887 (6) 125 125 G. (6) 628 628 3,280 3,280 8,575 148 8,723 93

9. (i) (1) (2) (3) (4) (5) (6) G. 3 28 (ii) 8 8 1 1 9 9 * 9 9 2,000,000 10 10 10 10 * 3 94

10. 9 (i) * * 22 18 17 16 1 1 40 35 40 35 * 5,500,000 5,500,001 6,000,000 1 6,000,001 6,500,000 1 7,000,001 7,500,000 3 1 7,500,001 8,000,000 1 8,500,001 9,000,000 1 9,000,001 9,500,000 2 5 5 95

11. (i) 16.5%16.5% 25% 25% 15% 10% 56%10% 62% 62% 50% 9,990 16,609 3,501 14,083 (12,585) (8,378) (4,022) (3,116) 22,314 % % 25.0 25.0 (5.8) 7.1 (23.5) (11.5) (2.2) (0.4) (0.1) (1.9) (3.3) (0.1) 0.5 (18.2) 27.0 96

11. (i) 14,312 22,633 (12,585) (8,378) (4,022) 141 (92) 206 149 (1,948) 14,312 476 9,891 8,302 15,505 11,583 1,926 1,750 746 822 28,544 22,457 (26,318) (36,256) (116) (226) (52) (397) (26,596) (36,769) 1,948 (14,312) 13,575 5,877 (11,627) (20,189),57,325 45,484 9 20 97

11. (i) 49,32736,116 7,9989,368 1,343 1,249 5 20 5,790 5,149 4,6644,404 2024 2034 (ii) i. 5% ii. iii. iv. 5% 6% 5% 3% 5% 3% 17% v. 1% 7% vi. vii. 3% 2% 98

12. 0.250.25 9,145 8,846 0.320.32 11,274 11,370 0.25 0.32 9,397 11,325 10% 13. 20,246 60,199 44,647,455,984 44,647,455,984 37,363,069 87,318,520 44,684,819,053 44,734,774,504 0.45 1.35 0.45 1.35 99

14. 628,762 4,526 633,288 107,229 671 107,900 (4,289) (28) (4,317) 930 6 936 732,632 5,175 737,807 732,632 5,175 737,807 52,811 247 53,058 (2,952) (282) (3,234) 21,495 156 21,651 803,986 5,296 809,282 (213,425) (761) (214,186) (56,812) (400) (57,212) (4,114) (4,114) 951 26 977 (50) (50) (273,450) (1,135) (274,585) (273,450) (1,135) (274,585) (71,933) (360) (72,293) (2,358) (2,358) 358 217 575 (6,441) (39) (6,480) (353,824) (1,317) (355,141) 459,182 4,040 463,222 450,162 3,979 454,141 100

14. 1,3851,842 83,465 3,873 2,358 4,114 1,400 461 15. NWS 1,118 1,957 1,556 1,737 12,962 19,330 832 832 (6) (6) 4 7 6 47 64 1,122 1,964 1,562 2,563 13,009 20,220 1,122 1,964 1,562 2,563 13,009 20,220 368 368 (467) (125) (137) (729) 69 99 90 67 796 1,121 1,191 1,596 1,527 2,861 13,805 20,980 (473) (544) (439) (874) (2,330) (68) (452) (370) (508) (1,398) (1) (1) (542) (996) (809) (1,382) (3,729) (542) (996) (809) (1,382) (3,729) (44) (383) (283) (596) (1,306) 467 56 137 660 (35) (46) (60) (41) (182) (621) (958) (1,096) (1,882) (4,557) 580 968 753 1,181 13,009 16,491 570 638 431 979 13,805 16,423 101

15. 16. 200 100% 300 100% 20,000,000,002 100% (2003) 1,000 100% (2011) 1,000 100% (2012) 1,000 100% (2013) 1,000 100% (1) 85 100% 12,000 100% CNOOC SES Ltd. 1 100% CNOOC Muturi Limited 7,780,770 100% CNOOC NWS Private Limited 2 100% 102

16. (1) CNOOC Exploration & Production Nigeria Limited 1,000 100% CNOOC Iraq Limited 1 100% CNOOC Canada Energy Ltd. 100 103,000 100% CNOOC Uganda Ltd 100 100% Nexen Energy ULC 13,671,421,700 100% Nexen Petroleum U.K. Limited 98,009,131 100% Nexen Petroleum Nigeria Limited 3,000 100% OOGC America LLC 100% Nexen Petroleum Offshore U.S.A. Inc. 15,830 100% Nexen Oil Sands Partnership 100% CNOOC PETROLEUM BRASIL 21.86 100% LTDA (2) CNOOC Nexen Finance (2014) ULC 100 100% CNOOC Finance (2015) U.S.A. 100% LLC (3) CNOOC Finance (2015) Australia 1 100% Pty Ltd (3) 103

16. (1) (2) CNOOC PETROLEUM BRASIL LTDA 16.46 21.86 (3) CNOOC Finance (2015) U.S.A. LLCCNOOC Finance (2015) Australia Pty Ltd 26 17. 9 30% 40 31.8% Northern Cross (Yukon) Limited 22,691,705 60% 4,324 4,100 256 232 74 92 330 324 104

18. Bridas Corporation 102,325,582 50% 4,542 4,151 5,615 4,932 10,157 9,083 59,767 52,835 3,675 3,463 73,599 65,381 (3,214) (1,290) (3,906) (4,697) (7,120) (5,987) (4,719) (3,989) (13,581) (13,105) (18,300) (17,094) (25,420) (23,081) 48,179 42,300 44,504 38,837 31,231 32,265 (3,535) (2,822) 288 324 (799) (473) 4,194 2,762 (900) (1,214) 3,294 1,548 3,294 1,548 105

18. 22,252 19,418 1,837 1,732 24,089 21,150 5 32 19. (i) 14 13 14 13 MEG 1) 1,077 2,958 65 134 1,142 3,092 Kerogen 2) 2,629 Kerogen 2) 2,245 3,771 5,337 9 (2009) 39 9 (2009) 1) MEGMEG 2 2) KerogenKerogen 2 106

19. (ii) 1) 64,002 48,564 2) 7,804 5,453 71,806 54,017 9 (2009) 1) 2) 2,398 2,684 1,573 2,301 107

20. 6,5703,981 21. 8,147 8,291 1,285 2,487 (169) (170) 22. 9,263 10,608 23. 2.61%2.96% 24. 108

25. 1,813 1,805 837 614 273 164 1,188 67 233 424 2,150 27 560 456 8,630 5,819 26. 13,534 11,499 *** LIBOR+0.42% 0.6% **** 28,532 28,532 30,250 30,250 28,532 28,532 30,250 30,250 LIBOR+0.23% 0.38% ** 187 187 160 160 * 4,866 4,866 770 770 187 4,866 5,053 160 770 930 28,719 4,866 33,585 30,410 770 31,180 ** LIBOR+0.23% 0.38% 911 911 1,035 1,035 * 130,149 130,149 104,348 104,348 911 130,149 131,060 1,035 104,348 105,383 109

26. * (2003) 2033 5.500% 300 300 (2011) 2021 4.25% 1,500 1,500 (2011) 2041 5.75% 500 500 (2012) 2022 3.875% 1,500 1,500 (2012) 2042 5.000% 500 500 (2013) 2016 1.125% 750 750 (2013) 2018 1.750% 750 750 (2013) 2023 3.000% 2,000 2,000 (2013) 2043 4.250% 500 500 CNOOC Nexen Finance (2014) ULC 2017 1.625% 1,250 1,250 CNOOC Nexen Finance (2014) ULC 2024 4.250% 2,250 2,250 CNOOC Nexen Finance (2014) ULC 2044 4.875% 500 500 Nexen 2015 5.2% 126 Nexen 2017 5.65% 62 62 Nexen 2019 6.2% 300 300 Nexen 2028 7.4% 200 200 Nexen 2032 7.875% 500 500 Nexen 2035 5.875% 790 790 Nexen 2037 6.4% 1,250 1,250 Nexen 2039 7.5% 700 700 CNOOC Finance (2015) U.S.A. LLC 2025 3.500% 2,000 CNOOC Finance (2015) Australia Pty Ltd 2020 2.625% 1,500 CNOOC Finance (2015) Australia Pty Ltd 2045 4.200% 300 ** 8.84 164,888,000 3.05691% 3.05691% 3,000 *** 3,7003,750 **** 694694 30(v) 110

26. 187 160 201 177 211 190 211 198 211 198 77 272 1,098 1,195 (187) (160) 911 1,035 (1) (2) 1,098 0.85% 1,195 1,147 0.72% 1,195 0.58% 2,255 1,725 0.58% (1) (2) 111

27. 52,889 42,351 (1) 5,874 5,180 (1) (11,018) 6,287 (274) (911) 6 (1,905) (2) 8 2,435 2,387 151 (500) 50,063 52,889 25 (560) (456) 49,503 52,433 (1) 14 (2) 4% 5%4% 5% 28. 0.02 44,647,455,984 949 * 42,132 44,647,455,984 43,081 44,647,455,984 43,081 * 622 112

28. (1) (2) (3) (4) 1.00 (1) (2) (3) 113

28. 1.00 (1) (2) (3) 311,184,000 10.17 383,178,934 9.75 (20,522,000) 11.43 (51,445,000) 9.85 (28,070,000) 5.62 (20,549,934) 3.15 262,592,000 10.56 311,184,000 10.17 262,592,000 10.56 311,184,000 10.17 0.59%0.70%2.743.50 262,592,000 2,323,404,158 114

29. 10% 50% 100100 50%50% 30. 1 14A14A (1) (2) 115

30. (1) a) b) c) d) e) FPSO (2) (3) a) b) (1)(a) (1)(d)(2) (i) (ii) (iii) (i) (ii) 10% (1)(e) (3)(a) (3)(b) 116

30. (i) 7,457 11,050 4,158 6,501 22,733 41,299 a 8,384 8,688 b 954 915 FPSO c 1,770 1,257 41,298 63,209 (ii) (iii) d 105,401 157,290 e 10,557 7,981 115,958 165,271 (iv) f (a) 629 474 (b) 21,707 19,462 117

30. (v) 144 240 19,313 21,164 19,457 21,404 g 4,504 4,244 8,656 10,098 517 459 9,173 10,557 (vi) 126 91 126 91 (vii) 35 5,416 6,067 4,214 20 6,570 3,981 11,986 14,262 118

30. (viii) 9 (ix) 1,263 896 a) b) c) (FPSO) d) e) f) 31.8% 22,00022,000 g) 1350.95% 130130 6000.95% 564 564 119

31. 11% 22% 5% 613 845 32. 17,130 82,513 (873) (1,073) 6,118 4,774 143 (1,049) (256) (232) (1,647) (774) (2,398) (2,684) 2,746 4,120 73,439 58,286 2,115 (789) 70 46 96,587 143,138 7,932 7,471 1,427 (1,540) (9,851) (6,387) 96,095 142,682 120

33. (i) (1) 51,296 39,630 91,112 115,269 (1) 2,688 5,870 605 1,612 1,321 60,912 63,623 (ii) a. 1,019 1,758 650 888 1,337 2,048 1,717 1,888 4,723 6,582 121

33. (ii) a. 273 405 27 31 18 25 24 33 34 34 b. 103 123 1,519 1,687 1,179 774 1,497 1,863 3,966 4,458 8,161 8,782 4,075 4,311 122

33. (iii) (a) 19-3 BC19-3 PSC 19-3 19-3 19-3 (1) 19-3 (2) (3) PSC (b) (c) 5,000 21,900 123

33. (iii) 34. 114 1,030 133,629 108,106 124

34., 64,002 64,002 7,804 7,804 7 7 14 14 1,142 1,142 72,969 8,946 64,023 13 13 48,564 48,564 5,453 5,453 303 96 47 160 54,333 5,549 48,624 160 3,092 3,092 3,092 3,092 (316) (264) (23) (29) 125

34. 131 115 156 541 6 132 (296) (657) 3 131 35. * 14,692 25,055 Royal Dutch Shell plc 6,917 16,724 * 5,502 14,048 Phillips 66 Co. 4,554 15,057 ExxonMobil Corporation 4,548 14,429 * 126

36. (i) 7% 10%11% 15% (ii) 127

36. (iii) 5.77% 89%79% 5% 0.09%0.06% 0.12%0.50% (iv) (v) 84.2% 9.02 128

36. (vi) 37. 164,645 136,563 386,041 379,610 550,686 516,173 29.9% 26.5% CNOOC NWS Private Limited, 38. 33 (c) 129

39. 117,700 110,837 117,700 110,837 49 30 10,304 8,861 3,659 3,446 13 14 154 1,607 14,180 13,957 8,336 6,508 118 79 10,675 8,485 19,129 15,072 (4,949) (1,115) 112,751 109,722 43,081 43,081 69,670 66,641 112,751 109,722 130

39. 42,132 (21,243) 5,558 69,888 96,335 32,340 32,340 284 284 284 32,340 32,624 ** (42,132) (42,132) (11,340) (11,340) (8,846) (8,846) (20,959) 5,558 82,042* 66,641 (20,959) 5,558 82,042 66,641 16,755 16,755 6,703 6,703 6,703 16,755 23,458 (11,267) (11,267) (9,162) (9,162) (14,256) 5,558 78,368* 69,670 * 78,36882,042 ** 622 40. 131

(932 15%, (a) 62% 52% 52% 30 (i) (ii) 132

(a) * * 10 10 10 10 10 10 10 10 10 1,666 4,460 65 800 17 409 136 148 336 137 13 2,032 6,005 137 13 1 27 65 579 12 54 2 173 53 215 171 579 226 376 74 1 45 7 34 31 25 1 258 520 7 34 (223) (232) (11) (51) (2) (36) (28) (39) (15) (16) (40) (30) (10) (310) (408) (15) 24 (128) 29 66 1 13 19 124 165 (25) (137) (13) 22 (15) 95 35 28 (13) 1,693 4,476 84 889 16 386 155 195 736 34 175 350 2 166 28 2,290 6,323 736 34 (38) (5) (17) (5) (56) 201 752 11 6 2 93 92 70 120 274 982 92 (229) (235) (14) (56) (2) (41) (28) (43) (16) (2) (18) (41) (32) (19) (323) (434) (16) (2) 26 (236) (23) 17 2 104 13 27 (62) (1) (12) (8) 15 11 22 (85) (62) (1) 1,692 4,757 47 861 17 456 143 233 750 31 209 404 2 149 20 2,258 6,731 750 31 267 1,491 10 3 8 99 75 369 1,576 8 (278) (267) (17) (51) (1) (34) (31) (25) (15) (2) (20) (49) (38) (17) (384) (443) (15) (2) (250) (626) 29 26 (1) (32) 52 (89) 73 (30) (49) (154) (9) 5 (228) (870) 73 (30) 1,431 5,355 60 846 15 389 167 119 815 239 275 2 102 9 2,015 6,993 815 1 5 200 509 201 514 (2) (8) (45) (8) (48) 1 7 53 7 54 1 4 199 516 199 520 3 9 3 9 4 4 4 4 (2) (8) (49) (9) (51) 1 3 54 3 56 1 3 200 534 200 537 3 67 3 67 5 1 2 1 7 (2) (9) (53) (9) (55) 5 21 5 21 1 6 199 570 200 577 1,693 4,480 84 889 16 386 155 195 736 34 175 350 200 516 166 28 2,490 6,843 736 34 1,692 4,760 47 861 17 456 143 233 750 31 209 404 201 534 149 20 2,459 7,268 750 31 1,431 5,361 60 846 15 389 167 119 815 239 275 201 570 102 9 2,215 7,570 815 * 201315%201320122012 133

(a) 10 10 10 10 10 10 10 10 10 700 1,337 24 415 8 183 59 195 209 85 193 2 128 26 1,006 2,349 209 759 1,775 24 375 12 347 47 192 226 87 208 2 122 19 1,053 2,915 226 809 1,757 40 439 10 273 53 119 197 85 166 2 94 8 1,092 2,763 197 1 4 102 349 102 353 1 3 102 331 102 334 1 6 104 412 105 418 10 10 10 10 10 10 10 10 10 992 3,139 59 474 8 203 96 528 34 90 156 38 1 1,284 3,974 528 34 932 2,982 24 487 5 109 95 41 524 31 122 196 28 2 1,206 3,816 524 31 622 3,598 20 406 5 116 114 619 154 109 8 1 923 4,230 619 97 167 97 167 98 203 98 203 95 159 95 159 134

(b) 157,458 9,539 1,915 18,905 8,800 8,845 212 20,771 226,445 (15,961) (2,998) (508) (1,288) (5,794) (1,022) (30) (2,413) (30,014) (14,585) (338) (556) (76) (350) (15) (15,920) (9,939) (601) (29) (889) (112) (3,401) (238) (1,911) (17,120) (1,406) 1 (72) (122) (93) (5) (207) (1,904) (27,992) (3,701) (199) (7,850) (3,327) (4,812) (98) (7,533) (55,512) (23,421) (23,421) 64,154 2,240 841 8,250 (631) (833) (174) 8,707 82,554 (16,038) (1,234) (252) (3,931) (91) 447 57 (5,352) (26,394) 48,116 1,006 589 4,319 (722) (386) (117) 3,355 56,160 284 2,870 3,154 (130) (1,495) (1,625) (29) (1,677) (1,706) (43) (7) (50) (16) (35) (51) (137) (1,504) (1,641) (71) (1,848) (1,919) (71) (1,848) (1,919) 48,045 1,006 589 4,319 (722) (386) (1,965) 3,355 54,241 135

(b) 148,985 11,263 1,753 16,682 10,555 8,661 205 20,106 218,210 (16,212) (2,834) (556) (1,600) (6,177) (1,006) (35) (2,760) (31,180) (10,157) (3) (276) (656) (244) (455) (11) (11,802) (4,945) (1,626) (267) (1,637) (1,263) (808) (238) (896) (11,680) (1,803) (1) (92) (146) (58) (2) (285) (2,387) (28,993) (4,686) (206) (8,143) (6,476) (1,385) (105) (7,413) (57,407) (19,072) (19,072) 67,803 2,113 448 4,554 (3,751) 4,949 (175) 8,741 84,682 (16,952) (1,559) (134) (1,984) 2,948 709 12 (5,063) (22,023) 50,851 554 314 2,570 (803) 5,658 (163) 3,678 62,659 277 3,160 3,437 (136) (1,329) (1,465) (25) (1,496) (1,521) (1) (122) (123) (15) (34) (49) (78) (1,411) (1,489) 22 (1,232) (1,210) (3) (3) 19 (1,232) (1,213) 50,870 554 314 2,570 (803) 5,658 (1,395) 3,678 61,446 136

(b) 106,258 7,258 1,079 9,723 4,981 4,435 103 12,760 146,597 (15,984) (2,562) (420) (1,271) (4,278) (1,044) (28) (2,785) (28,372) (9,498) (131) (459) (250) (362) (48) (10,748) (4,415) (937) (50) (885) (712) (1,271) (260) (1,443) (9,973) (1,882) (93) (119) (55) (2) (284) (2,435) (39,533) (3,193) (135) (9,757) (3,163) (7,145) (147) (9,592) (72,665) (59) (59) 34,887 566 343 (2,742) (3,541) (5,442) (334) (1,392) 22,345 (8,722) (764) (103) 186 1,405 2,133 34 4,801 (1,030) 26,165 (198) 240 (2,556) (2,136) (3,309) (300) 3,409 21,315 200 3,244 3,444 (139) (1,624) (1,763) (11) (1,288) (1,299) (59) (6) (65) (6) (34) (40) (109) (1,767) (1,876) (124) (1,475) (1,599) 19 19 (105) (1,475) (1,580) 26,060 (198) 240 (2,556) (2,136) (3,309) (1,775) 3,409 19,735 137

(c) 323,111 19,508 2,269 53,136 46,009 27,139 419 29,053 500,644 5,538 1,470 2 16,442 54,116 29,886 4,414 17,075 128,943 (162,767) (8,971) (951) (23,011) (3,827) (7,152) (96) (6,733) (213,508) 165,882 12,007 1,320 46,567 96,298 49,873 4,737 39,395 416,079 1,888 21,555 23,443 7,537 7,537 (1,637) (4,331) (5,968) 251 24,761 25,012 383,162 24,663 2,277 57,744 13,183 21,295 209 35,489 538,022 12,319 1,405 2 20,599 97,272 43,964 4,867 15,873 196,301 (191,397) (13,572) (1,092) (31,203) (9,019) (12,042) (204) (15,307) (273,836) 204,084 12,496 1,187 47,140 101,436 53,217 4,872 36,055 460,487 251 25,713 25,964 5,395 5,395 (81) (5,840) (5,921) 170 25,268 25,438 138

(c) 409,295 30,736 2,420 65,593 29,160 39,805 97 11,217 588,323 13,006 1,616 2 27,644 90,802 36,523 6,263 42,387 218,243 (230,943) (17,768) (1,253) (43,408) (14,774) (20,247) (831) (26,034) (355,258) 191,358 14,584 1,169 49,829 105,188 56,081 5,529 27,570 451,308 2,129 30,191 32,320 5,754 5,754 (1,831) (7,693) (9,524) 298 28,252 28,550 (d) 879 29 10,283 35,773 1,760 453 26,894 76,071 25 2,385 39,959 13,707 4,552 17,980 78,608 12,155 733 29 1,897 1,271 1,563 138 895 18,681 * 42,877 3,272 6,720 8,755 6,882 17 2,943 71,466 55,911 4,059 29 21,285 85,758 23,912 5,160 48,712 244,826 43 25 68 * 7 1,457 1,464 50 1,482 1,532 139

(d) 13,644 1,515 267 3,454 1,759 2,260 421 724 24,044 * 58,920 5,060 7,754 8,239 10,026 44 5,434 95,477 72,564 6,575 267 11,208 9,998 12,286 465 6,158 119,521 1 151 152 * 1,890 1,890 1 2,041 2,042 9,516 908 54 1,169 461 1,236 1,123 714 15,181 * 22,726 4,582 9,469 2,465 7,216 60 72 46,590 32,242 5,490 54 10,638 2,926 8,452 1,183 786 61,771 59 33 92 * 241 2,811 3,052 300 2,844 3,144 * 140

(e) 932 12 10% 10% (1) 1,336,580 93,943 18,095 99,648 430,094 87,532 1,040 108,254 2,175,186 (523,810) (46,834) (6,716) (19,779) (247,762) (19,423) (610) (32,056) (896,990) (2) (259,636) (29,850) (2,269) (36,699) (50,993) (15,946) (43) (14,911) (410,347) (102,827) (5,504) (2,314) (18,498) (24,996) (12,252) (31) (36,709) (203,131) (3) 450,307 11,755 6,796 24,672 106,343 39,911 356 24,578 664,718 10% (165,652) (8,085) (2,393) (9,328) (74,732) (19,283) (53) (5,688) (285,214) 284,655 3,670 4,403 15,344 31,611 20,628 303 18,890 379,504 (1) 560 46,278 46,838 (369) (19,688) (20,057) (2) (229) (4,362) (4,591) (4,305) (4,305) (3) (38) 17,923 17,885 10% 45 (8,412) (8,367) 7 9,511 9,518 284,662 3,670 4,403 15,344 31,611 20,628 9,814 18,890 389,022 141

(e) (1) 1,335,886 84,138 18,722 103,213 441,864 101,410 1,000 93,091 2,179,324 (528,067) (36,129) (4,244) (34,477) (257,139) (20,692) (434) (29,589) (910,771) (2) (273,362) (17,291) (2,708) (34,665) (52,399) (22,101) (43) (13,704) (416,273) (89,139) (12,355) (3,129) (14,126) (7,564) (156) (49) (30,077) (156,595) (3) 445,318 18,363 8,641 19,945 124,762 58,461 474 19,721 695,685 10% (163,945) (8,741) (3,179) (6,585) (84,425) (33,260) (93) (4,584) (304,812) 281,373 9,622 5,462 13,360 40,337 25,201 381 15,137 390,873 (1) 572 82,011 82,583 (1,225) (30,695) (31,920) (2) (642) (12,330) (12,972) (13,641) (13,641) (3) (1,295) 25,345 24,050 10% 271 (14,096) (13,825) (1,024) 11,249 10,225 280,349 9,622 5,462 13,360 40,337 25,201 11,630 15,137 401,098 (1) 791,748 59,432 12,649 49,238 254,224 64,372 442 36,157 1,268,262 (268,950) (28,572) (3,332) (17,100) (192,827) (20,123) (312) (26,695) (557,911) (2) (184,967) (12,962) (2,442) (26,992) (40,130) (26,609) (2,533) (296,635) (46,043) (4,769) (1,733) (5,317) (43) (4,296) (62,201) (3) 291,788 13,129 5,142 5,146 15,950 17,640 87 2,633 351,515 10% (127,971) (5,392) (1,664) (5,868) (20,616) (13,726) (22) (252) (175,511) 163,817 7,737 3,478 (722) (4,666) 3,914 65 2,381 176,004 142

(e) (1) 579 74,356 74,935 (928) (29,858) (30,786) (2) (575) (10,703) (11,278) (11,823) (11,823) (3) (924) 21,972 21,048 10% 213 (12,014) (11,801) (711) 9,958 9,247 163,106 7,737 3,478 (722) (4,666) 3,914 10,023 2,381 185,251 (1) (a) (b) (2) (3) 347,460 9,539 356,999 (180,494) 313 (180,181) 51,408 (2,624) 48,784 53,261 53,261 (82,414) (2,083) (84,497) 70,077 229 70,306 22,884 820 23,704 42,522 1,269 43,791 (17,464) 1,148 (16,316) 114,763 114,763 (42,499) 907 (41,592) 379,504 9,518 389,022 143

(e) 379,504 9,518 389,022 (175,187) 58 (175,129) 4,323 8,750 13,073 87,059 652 87,711 (62,501) (4,050) (66,551) 105,782 197 105,979 (6,620) 697 (5,923) 48,893 1,305 50,198 19,828 (2,595) 17,233 (1,544) (1,544) (8,664) (4,307) (12,971) 390,873 10,225 401,098 390,873 10,225 401,098 (107,455) (288) (107,743) (306,900) (5,484) (312,384) 68,657 904 69,561 38,995 (247) 38,748 65,680 2,904 68,584 (37,789) 545 (37,244) 50,466 1,720 52,186 64,907 1,040 65,947 (2) (2) (51,430) (2,070) (53,500) 176,004 9,247 185,251 144

A. 1. 2. 3. MBA CACT Nexen Energy ULC 571 XV 13.51(2)(h)-13.51(2) (v) 145

4. XV 13.51(2)(h)-13.51(2) (v) 5. 146

XV 1,120,000 (b) (c) (a) 10% 13.51(2)(h)-13.51(2) (v) 6. 7. B. 1. (a) (b) (i) (ii) 2. (a) 147

148 (b) (a) (c) (a) (i) (ii) (iii) (iv) (v) 20% (d) (i) (ii)

3. B1 B2 B1 B1 B2 10% 1. 2. 165 1 65 3. 4. 5. B1 149

6. B2 622141 7. B3B1 8. 13.39(4) 9. 18317 1712-1716 10. A3 A5 2015 2016 18317 1712-1716 150

API Bbl Bcf BOE Mbbls FPSO Mboe LNG Mcf PSC Mmboe Mmbbls Mmcf (BOE) SES Tangguh13-1/13-4 6,000 151

G. G. 183 17 1712-1716 13 4 (10004) CEO 00883 CNU (8610) 8452 2973 (8610) 8452 1441 ir@cnooc.com.cn (852) 2213 2502 (852) 2525 9322 huanghe@cnooc.com.cn (8610) 8452 6642 (8610) 8452 1441 mr@cnooc.com.cn 165 (852) 2213 2500 (852) 2525 9322 25 100010 www.cnoocltd.com 152

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