CNOOC Applies to Establish Marine Protection Foundation

China National Offshore Oil Corporation (CNOOC) has officially submitted a registration application to the Ministry of Civil Affairs of China for the establishment of CNOOC Marine Environmental and Ecological Protection Public Welfare Foundation. The Foundation is to be launched by CNOOC and supported by a contribution from the CNOOC Limited with RMB500 million as initial capital. The Board of Directors has approved the contribution plan for the Foundation. 

CNOOC's Foundation will focus on marine environmental and ecological protection and related scientific research and technology advancement as well as other charitable public welfare projects. Upon the approval on the registration, the Foundation will prioritise the work on marine environmental protection and comprehensive treatment.

 

Mr. Li, Fanrong, the company's chief executive officer, commented that as a company engaged in oil and gas exploration, development and production mainly in offshore China, CNOOC has always focused on marine environment and ecological protection and has been proactively performing its social responsibilities. The Penglai oil spill incident has served as a reminder of the importance of safety and environmental protection risk. "The entire society should care more about the efforts made in terms of marine environmental protection and ecological restoration, and we would like to make our own commitment," he concluded.