Several analysts said the revenue was roughly in line with their expectations but also warned that CNOOC, which reported 5.6 percent production growth in the quarter, could miss its full-year output targets.
State-run CNOOC, stepping up investment this year by one third to develop energy fields, said its unaudited revenue for the third quarter totalled 14.87 billion yuan (US $1.84 billion), up from 11.4 billion yuan a year earlier.
The company, which produces most of its hydrocarbons off the coast of China and a small proportion from Indonesia, said in presentation material that its oil and liquids output from Indonesia fell nearly 16 percent year on year. "We are confident to meet the full-year production growth target offshore China set in early 2005," Zhou Shouwei, president of CNOOC, said in a statement.