COOEC consistently promotes its high-quality development through energy conservation and emission reduction. In 2021, it implemented 137 measures to save energy and improve efficiency and thereby saved energy by 3,288 tons of standard coal, accounting for 206% of the preset goal, reduced carbon dioxide emissions by 9,939 tons, accounting for 101% of the preset goal, reduced water consumption by 3,970 tons, accounting for 124% of the preset goal, and saved 19.53 million Yuan of production and operating costs. In the evaluation of key energy consumers in Tianjin with respect to the dual control of energy consumption and energy intensity in 2020, the Company was recognized as one of the only five energy consumers in Tianjin Port Free Trade Zone that had overachieved the goals. It was praised by Tianjin Municipal Development and Reform Commission and awarded the title of Energy Conservation Class A Enterprise of Tianjin. During the “13th Five-Year Plan” period, two subordinate units of COOEC was awarded the honorary title of National Green Plant, one subordinate unit was awarded the honorary title of Green Supply Chain Demonstration Enterprise, and COOEC received 12.03 million Yuan as energy conservation fund granted in accordance with relevant policies.

1. Forging a common understanding on low-carbon development

The Theoretical Learning Central Group of COOEC Party Committee convened the 11th meeting to thoroughly study and implement the Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality in Full and Faithful Implementation of the New Development Philosophy and the Action Plan for Carbon Dioxide Peaking Before 2030. The Company interpreted and reflected on the implications and impact of carbon neutrality in an in-depth manner, published the Special Issue of Carbon Neutrality Policies, and published special papers such as “Where Does the Pathway to Carbon Neutrality Start” in COOEC Outlook Journal (2021 First Issue) to forge a common understanding.

2. Carrying out top-down design for carbon dioxide peaking and carbon neutrality

COOEC has developed the Strategy for Implementation of Carbon Dioxide Peaking and Carbon Neutrality to outline the plan of action for low-carbon development and prepared the Development Plan for the “14th Five-Year Plan” Period to define the key tasks with respect to low-carbon development and clarify the direction and arrangement for its low-carbon development in the coming five years. The Company carried out dynamic optimization and adjustment in accordance with the industry policies of China and CNOOC.

3. Establishing a goals breakdown and evaluation mechanism

COOEC effectively broke down the plan for the implementation of green and low-carbon development strategy and included the letter of responsibility for annual goals and the program for performance evaluation of the leading group to facilitate effective implementation of the plan.

4. Enhancing communication and cooperation with professional organizations

COOEC conducted dialogues and communication with professional organizations such as the Low-Carbon Development Research Center of Tianjin Academy of Eco-environmental Sciences and Tianjin COSCO Shipping Jinfeng New Energy Co., Ltd to seek opportunities for cooperation and explore win-win cooperation modes.

5. Launching low-carbon promotion campaigns in multiple forms

COOEC launched a large number of low-carbon promotion campaigns, such as the low-carbon initiative, communication on green and low-carbon development strategy, signing for commitment, low-carbon case study, and energy conservation and emission reduction contest, and published numerous special papers and articles including COOEC: Inject New “Low-carbon” Impetus into High-quality Development and Full Involvement in Energy Conservation and Emission Reduction. The Company incorporated the green development philosophy into its development strategy, adhered to the principle of prioritizing ecological protection and promoting green development, and strived to prevent or reduce environmental pollution and ecological damage from the source, made due contributions for achieving “carbon dioxide peaking and carbon neutrality”, and created a positive public atmosphere for the harmonious coexistence of humans and nature.

6. Building an energy-saving low-carbon base featuring source control in Lingang Industrial Zone

For its Offshore Equipment Manufacturing Base located in Lingang Industrial Zone, Tianjin, COOEC optimized the systems for energy conservation from the source and implemented special optimization plans covering the development or optimization of gas radiation heating system for the painting workshop, intelligent control system for air compressors, and lightning systems to plant the genes of energy conservation and emission reduction at the source. The manufacturing base will reduce energy consumption by 2,406 tons of standard coal, carbon emissions by 6,280 tons, and operating cost by 12.68 million Yuan every year after it is completed and put into operation.

7. China’s first offshore “green oilfield” successfully put into operation

In 2021, Caofeidian 6-4 Oilfield, China’s first offshore “green oilfield”, was successfully put into operation, marking COOEC’s new progress in the implementation of green and low-carbon development strategy. The Company has successfully used shore power in Caofeidian 6-4 Oilfield by optimizing the project program and retrofitting the existing equipment and facilities. As estimated, the annual fuel consumption of the main power generators in this oilfield will be reduced by 11 thousand tons compared to the annual fuel consumption of fuel-powered generators onboard conventional offshore oil and gas platforms, the average annual crude oil consumption will be reduced by about 16 thousand tons of standard coal, and carbon dioxide emissions will be reduced by about 40 thousand tons.