Chinese offshore giant CNOOC Limited is set to make waves with an ambitious $18 billion strategy to ramp up oil and gas production.

The company is preparing to start production from a total of 13 oil and gas fields in 2024, with 10 offshore and three onshore projects taking centre stage.

Anticipating a combined peak net production of 202,330 barrels of oil equivalent per day, CNOOC Ltd aims to catapult its overall production by 5.2%