Fu Chengyu Quotations

Fluctuations in international oil prices are beyond China's control. We can only make sure the supply and production remain stable.

Offshore China output is in line with 19 percent full-year growth target.

We're moving very fast on drilling projects, to access the potential reserves.

CNOOC will become more active in exploring offshore China and overseas in 2006.

We hope (the) oil price will stay as high as today. The company will keep the production growth and contain costs (in the second half).

The Chinese people and government are learning from the U.S.,

The company has considerably enhanced its production, reserves and net profit.

The company will reach a fast- growing phase over the next few years, which will require high capital investments, so we decided to reserve cash for future development.

We are bound together with most of the oilmen in this room.

We can see from the later market performances that CNOOC has chosen a very good opportunity to withdraw,