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China National Offshore Oil Corporation (CNOOC)
Basic Information
Name :
China National Offshore Oil Corporation (CNOOC)
Category :
Business
Working Fields :
Education Education
Environment Environment
Philanthropy & Charity Philanthropy & Charity
Social Standards & Labor Protection (Supply Chain) Social Standards & Labor Protection (Supply Chain)
Estab. Date :
1982
Website :
www.cnooc.com.cn
Contacts :
Please send your request to CCM Team
Background Description / Mission Statement
China National Offshore Oil Corporation (CNOOC) is a state-owned oil company which was incorporated on 15 February 1982. CNOOC, in cooperation with foreign partners, is responsible for the exploration and development of Chinese offshore oil and gas resources.

In 2005, CNOOC recorded an oil and gas output of 39 million tons of oil equivalent. At the end of 2005, its total assets and net assets had reached 198.5 billion RMB and 105.4 billion RMB respectively; a considerable increase from 2.8 billion RMB and 2.2 billion RMB when the company was first established. CNOOC is currently ranked No.8 in the Forbes Top 50 Asian Companies.

With a history spanning 20 years, CNOOC has developed into an integrated energy company by incorporating complete oil and gas production services into its core business. The company has six main business sectors including oil and gas exploration and development, technical services, logistic services, petrochemicals and chemicals, gas and power generation, and financial services. All six sectors have experienced significant growth, thus enabling the company to maintain its competitive edge.
CSR Activities in China
CSR activities include:

Building an environmentally-friendly enterprise
- CNOOC has established a comprehensive system of environmental protection. All CNOOC projects meet the State's requirement of integrating environment protection systems into the design, construction, and operation of project facilities; CNOOC has invested 50 million RMB to establish a set of regional environmental protection facilities

Safe Production Management
- A leading tenet in CNOOC is that safe production standards must surpass economic benefits. In this respect, CNOOC has set up a strict management system for safe production and provides training and education to all of its employees

Charity
- CNOOC has established a public welfare foundation which funds poverty relief, educational scholarships, and disaster relief. Within the poverty relief program, CNOOC has been engaged in aid programs in the Tibet autonomous region and in Hainan province since 2000. CNOOC has had active participation in "Mother's Water Cellar," "Health Express," and other key projects. To contribute to education, CNOOC channeled 10 million RMB from its advertising budget and donated it to the Song Ching Ling Foundation scholarship program for needy students in 30 universities and colleges. The group invested another 10 million RMB to set up an education foundation in Hainan province. In addition, CNOOC has founded a number of primary schools under Project Hope. As the first enterprise in Mainland China to donate to universities in Hong Kong, CNOOC makes regular annual donations of 1 million HK dollars to the Chinese University of Hong Kong (CUHK) to provide assistance to mainland students. Thirdly, in support of disaster relief, CNOOC regularly provides major donations to regions affected by natural disasters. Donations include aid for the 2005 typhoon of 6 million RMB to Hainan province, and another donation of 2 million RMB to Anhui and Zhejiang provinces

Global Citizenship
- As a responsible global citizen, CNOOC does not limit its commitment to CSR activities only to China. The group has also gone to great lengths to meet its responsibility as a global citizen. When the tsunami struck the regions along the Indian Ocean coast, CNOOC's Indonesia branch and its staff donated a total of 120,000 USD and the headquarters in Beijing made another donation of 1.6 million RMB

Labour Protection
- In addition to ensuring a safe working environment, CNOOC provides required social insurance as well as additional corporate insurance for its employees. In addition to regular accident and healthcare insurance, the group also offers endowment insurance and additional healthcare insurance to its employees
Publications / Reports
"2007 Sustainability Report"
"2006 Sustainability Report"
"2005 Sustainability Report"
"CNOOC Poverty Relief Report"
"CNOOC Charity Annual Report 2005"

 
Main Partners
Aegon Life Insurance (ALI)
Chinese Foundation for Lifeline Express (CFLE)
China Women's Development Foundation (CWDF)
Song Ching Ling Foundation (SCLF)
The Chinese University of Hong Kong (CUHK)
Attachments
No attachment file
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