Safety Management

Governance

CNOOC Limited places great emphasis on production safety and strictly abides by the Law of the People's Republic of China on Work Safety, the Law of the People's Republic of China on the Protection of Oil and Gas Pipelines, the Regulations on the Safety Production of Offshore Oil, the Rules for the Administration of Offshore Oil Safety, the Safety Rules for Offshore Fixed Platforms and other relevant laws, regulations and industry standards. On the basis of good domestic and international practices and the safety management system standards issued by relevant international organizations, we have established and improved the Company's characteristic HSE management system. The system is deeply integrated with the Company's basic QHSE internal control policy and set clear principles and parameters for safety management.

The Company has developed a hierarchical, top-down safety management structure and strictly enforces safety accountability. The management team is responsible for the organization and implementation of safety measures, supervising the implementation of safety responsibilities across all units and departments, and regularly reporting to the Board of Directors to ensure safe operations and sustainable development.

Strategy

The Company has established a systematic safety production strategy system based on its core HSE management standards. The Company continuously deepens its conceptual practices and improves its safety management standards.

Impact, Risk, and Opportunity Management

CNOOC Limited assesses safe production risks from multiple dimensions, implements hierarchical control, takes preventive actions, and establishes a closed-loop management mechanism for accidents to comprehensively enhance risk prevention and control capabilities.

In 2024, CNOOC Limited conducted a comprehensive revision of its QHSE internal control system. The revised internal control system includes 43 documents, comprising basic regulations, management measures, and detailed rules. It significantly enhances the compliance, adequacy, and effectiveness of the Company's safety systems, and provides a solid institutional guarantee for safe production.

Indicators and Targets

The Company remains steadfast in its goal of "resolutely preventing major accidents, comprehensively preventing all accidents, and consistently pursuing zero fatalities." Despite a 2% increase in annual working hours, the lost-time injury rate showed a steady decline compared to 2023. In 2024, the Company had no significant safety incidents.

Safety Capacity Building

CNOOC Limited is actively advancing emergency capability building by integrating and optimizing existing video monitoring and emergency systems. This enables real-time updates and sharing of offshore facility location information and on-site meteorological data, enhancing monitoring, early warning, and decision-making support capabilities. In 2024, we formulated a system upgrade plan to automate typhoon data updates and introduce satellite cloud imagery, automatically calculating the distance of the typhoon center and wind circle data to strengthen typhoon prevention measures.

CNOOC Limited has systematically organized emergency drill activities. During the reporting period, various branches conducted emergency drills based on their risk profiles to enhance employees' emergency response capabilities, to strengthen employees' self-rescue and mutual rescue abilities. The Company conducted 6,224 unscripted “Four Nos and Two Directs” practical drills, and 2,552 emergency escape skill training sessions.

The Company actively conducts safety training and awareness activities to strengthen the safety awareness of all employees. This ensured comprehensive coverage of safety supervision training. In 2024, the Company organized various types of safety training over 2,700 sessions reaching more than 90,000 participants.

Safety Operation

CNOOC Limited has established a contractor safety management system based on the Contractor Quality, Health, Safety, and Environmental Management Measures and the Contractor QHSE Management Rules. The Company fully implements the contractor safety responsibility guarantee system to ensure that contractor safety management is effectively carried out.

CNOOC Limited has focused on enhancing the management of critical equipment and facilities in offshore oil and gas fields. The Company has built a comprehensive equipment and facility integrity management system, ensuring thorough reviews during the feasibility study and preliminary design stage of development projects. This strengthens the identification and management of potential hazards and conducts detailed risk assessments for key facilities. In 2024, through the implementation of 14 key initiatives such as system upgrades and digital empowerment, the Company achieved a record high integrity rate of equipment and facilities of 99.99%, providing strong support for safe production and reserve and production growth.

CNOOC Limited focuses on six key areas to enhance well control safety, "raising well control awareness, strictly fulfilling responsibilities, intensifying hazard rectification, improving well control training, focusing on technology-driven solutions, and strengthening emergency response capabilities." These efforts have steadily improved the Company's ability to manage well control risks, ensuring overall stability in well control safety.

CNOOC Limited has formulated the Overseas Project Safety Management Guidelines to continuously strengthen overseas public safety management. The Company has established a "5+2" overseas public safety management system, striving to build and improve management culture, institutional mechanisms, regulatory standards, foundational research, and informatization. This systematically enhances overseas public safety management capabilities, mitigates major operational safety risks, and fully safeguards the property and lives of overseas employees. In 2024, there was no major public safety accident in overseas units.