CNOOC's first half net profit increased 111%

Thanks to sustained domestic economic growth and increased offshore capital spending by oil companies, CNOOC's (601808) performance was encouraging in the first half of the year.　　During the reporting period, the company realized operating income of 8.993 billion yuan, a growth of 12.4% over the same period last year, to achieve net profit of 2.174 billion yuan, an increase of 111.4% year-on-year, the basic earnings per share 0.48 yuan. Deputy Chairman and Chief executive officer of CNOOC Service said in the first half, the oil Field Service industry remained at the bottom of the world, the global drilling platform market demand for more and more contradictions, the deepwater drilling rig utilization rate maintained at around 92%, compared with the same period last year, the 96% decline, the use of the jack-up rig is about 72%, with the beginning of 70　　% compared to a slight increase in the global drilling platform, the daily cost of the decline is obvious, fierce market competition. Half-yearly reports show that, as of the end of June 2010, the company operates and manages 27 drilling vessels, including 23 self-lift drilling vessels and 4 semi-submersible drilling vessels.　　Period, the self-lift drilling ship operation 3,935 days, semi-submersible drilling ship operation 477 days, the total operation of 4,412 days, compared with the same period last year 4011 ship days increased 401 days. Although the oil Field Service market competition is fierce, but the Chinese sea oil clothing constantly open up new markets at home and abroad, mud, cementing, directional engineering and workover and other business operations have increased.　　At the same time, the emerging business--eps (Environmental protection engineering Services) also began to show benefits gradually. In the ship business, as at the end of June 2010, the company has all kinds of work ship 78, tanker 3, chemical ship 5. 78 working vessels were operating for 13,395 days, up 201 days from the same period last year. The calendar days of the working fleet was 95.2%, an increase of 3.2% per cent.　　However, the demand of oil companies decreased and the sea ice situation in the Bohai Sea in the beginning of the year, the company's Geophysical services operation volume decreased. In addition, CNOOC also actively explore new markets. During the period of new submarine cable collection business, the first half of the completion of operations 185 square kilometers.