China’s subsea pipeline network hits 10,000km, a milestone in offshore oil and gas development. China aims to reduce reliance on energy imports, with plans to expand the network to 13,000km by 2030 for hydrogen and shale gas transport. The Bohai Sea contains the densest pipeline network, with CNOOC launching the Kenli 10-2 project for peak production of 19,400 barrels per day by 2026. CNOOC also started production in the South China Sea, increasing domestic output by 4.5 billion cubic meters per year. China’s state energy major, CNOOC, reported record-high net oil and gas production for 2024, with profits jumping by 11.4% to $19 billion. The company focuses on production maintenance this year, aiming to expand natural gas reserves for a transition away from coal. Despite revised lower production targets for 2025, CNOOC expects to break production records in both oil and gas.

Read more at Yahoo Finance: CNOOC Expands Presence in South China Sea with New Projects