Cnooc to Boost Spending as China Pushes for More Oil

The transcript discusses Sinach's ambitious spending and production targets, highlighting their plans to increase production to 545 million barrels per year by 2021 and over two million barrels per day by 2025. Analysts are optimistic due to Sinach's competitive production costs and successful cost-cutting strategies, despite challenges in offshore drilling. The market is closely watching Sinach's stock, and the company backs its projections with real projects in the South China Sea, Bohai Sea, and other regions.

What was the spending target for the company last year?

What were the reasons given by the CEO for the production cost savings?

What is the projected annual growth rate for the company over the next three years?

How much oil does the company project to produce per day by 2025?

What challenges do analysts believe the company might face regarding production costs?