Chinese Oil Major CNOOC Targets Record High Production This Decade

China National Offshore Oil Corporation (CNOOC) is planning to boost its 2022 oil and gas production by 10 percent compared to last year’s goal, as it plans 13 new projects to come on stream and drill 360 exploration wells this year, and continue raising output to records this decade. CNOOC set its production target at 600 million to 610 million barrels of oil equivalent (boe) for 2022, up from the 2021 target of 545-555 million boe, it said in the strategy and operations guidance for this year. In 2022, CNOOC expects China to account for…