State owned China national offshore oil corporation. The China National Offshore Oil Corporation (CNOOC), founded in 1982, is one of the largest state-owned oil giants in China, as well as the largest offshore oil and gas producer authorized to cooperate with foreign partners for oil and gas exploitation in China ‘s offshore areas. CNOOC has maintained a momentum of rapid growth and developed from an upstream oil company exclusively engaged in oil and gas exploitation into an integrated corporation with a competitive core business and synergetic business portfolio along the value chain. It has established six business sectors, namely, oil and gas exploitation, technical services, chemical and fertilizer production and refining, natural gas and power generation, financial services, and logistic service and new energies development.