CNOOC Limited announced in 2022, the Company plans to drill 227 offshore exploration wells and 132 onshore unconventional exploration wells, and acquire approximately 17 thousand square kilometers 3-Dimensional (3D) seismic data. In 2022, 13 new projects are expected to come on stream, mainly including Bozhong 29-6 oilfield development, the development of Kenli 6-1 oilfield Block 5-1, 5-2, 6-1, Enping 15-1/10-2/15-2/20-4 oilfields joint development and Shenfu South gas field in China, Liza Phase II in Guyana and 3M (MDA, MBH, MAC) project in Indonesia. To ensure shareholders' return, subject to the approval by the general meeting of shareholders on the proposed dividends for each year, from 2022 to 2024, the expected annual payout ratio of the Company will be no less than 40%.
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