CHINA OILFIELD (02883) announces strategic guidance for 2025.

China Oilfield (02883) has released an announcement, the Board of Directors of the company has issued the 2025 strategic guidance based on the company's production and operation conditions for 2025: According to forecasts from third-party organizations, global oil demand is expected to remain stable in 2025, with global upstream exploration and development investment staying basically the same as in 2024, with offshore exploration and development investment increasing more than onshore. Based on current predictions, the company's domestic business is expected to develop steadily in 2025, while overseas business will see stable growth. The company has formed a new market pattern of "1+2+N" with China as the foundation, the Middle East and Southeast Asia as the two wings, and driving the benign development of several potential overseas regions. It has built a dual-drive system of "product + service" and "product + sales," and has taken international exchanges and cooperation to a new level. The company adheres to the orientation of technical value and customer asset value, constructing a technological innovation system covering the full life cycle of technical products and the entire industry chain, creating key core technological products, promoting a virtuous cycle of technological development, accelerating the development of new production forces, and establishing a group of high-end technological brands represented by Xuanji, Xuanyue, Haijing, Haimai, and Haihong, with increasing international visibility and influence. In 2025, the company's capital expenditure is expected to be around RMB 7.2 billion, mainly used for equipment investment and upgrades, technology equipment upgrades, technology research and development investment, and base construction. The company will maintain strategic determination, deepen reform continuously, constantly enhance operating management and technical service levels, and accelerate the construction of a world-class energy service company with Chinese characteristics. The above strategic guidance is formulated based on the company's current operating conditions and market environment. Whether the company can achieve the expected performance in 2025 depends mainly on economic and market conditions.