CNPC Engineering: Investing 40 million RMB to establish a wholly-owned subsidiary company.

CNOOC Engineering announces that its fully-owned subsidiary, CNOOC Engineering Co., Ltd., will invest 40 million yuan to establish CNOOC Project Management Co., Ltd., with a 100% shareholding ratio. After the establishment of the project management company, it will integrate the company's project management related business and actively develop comprehensive engineering project consulting services, vigorously promoting green, low-carbon, and digital transformation. The investment funds are from its own funds, with its main business including engineering consulting, planning, design, and project management for domestic and foreign petroleum, natural gas, chemical, and pharmaceutical projects. The purpose of this investment is to optimize the company's management system, improve management efficiency, and enhance the company's ability to provide full-process management services for engineering projects, which will have a positive impact on the company's continued operational capabilities and overall competitiveness in the future.