2023年，面对全球经济增速放缓和国际原油价格回落等复杂的外部环境，公司扎实推进高质量发展，储量产量再创历史新高，盈利水平保持高位。与此同时，坚持高标准公司治理，积极回报股东，获得市场高度认可。

持续加快上产步伐，全年实现油气净产量678百万桶油当量，同比增长8.7%，连续五年刷新历史纪录。2019~2023年净产量复合增长率达7.6%，增速居于行业领先地位。公司持续提高油田开发效益，中国海上在产油田自然递减率稳步下降，生产时率保持高位运行。渤海油田稳居中国第一大原油生产基地，圭亚那和巴西保持海外产量增长主力区。

坚持价值勘探、精准施策，全年共获得9个新发现，成功评价22个含油气构造，净证实储量达67.8亿桶油当量，储量替代率达180%，储量寿命连续7年保持在10年以上。公司获得并评价多个大型油气田发现，领域性勘探取得战略突破。在中国，成功评价渤中26-6和开平南等亿吨级大油田，并探获首个陆上深煤层千亿方大气田。在海外，圭亚那项目再获亿吨级油田。

坚持勘探开发一体化，加快储产转化步伐，全年完成资本支出人民币1296亿元，多个重点项目于年内成功投产，超过40个项目处于建设当中。公司强化钻完井精益化管理，缩短项目开发周期，提前带来产量贡献。推广工程标准化应用，加速新项目产能建设，批量化采办推进降本。

坚持绿色发展战略，从源头管控能耗和碳排强度，着力提升清洁能源产量占比。2023年，中国海上油气田实现5万立方米/天以上火炬气全部回收利用。通过节能技改，减排二氧化碳约75万吨。强化天然气业务，在海上，渤海首个千亿方大气田渤中19-6凝析气田I期开发项目成功投产；在陆上，已建成三大非常规天然气产业基地，产量实现5年增长约3倍。南海、渤海和陆上三个万亿大气区建设不断加快。此外，海上风电和海上二氧化碳封存项目陆续投用，绿色发展取得实效。

进一步夯实成本竞争优势，桶油主要成本28.83美元，同比下降5.1%。得益于净产量大幅上升、成本管控有力，公司全年实现总收入人民币4166亿元，归母净利润达人民币1238亿元，保持了强劲的盈利能力。公司现金状况良好，自由现金流充裕，达人民币888.7亿元。为与股东分享发展成果，董事会已建议派发每股0.66港元的末期股息（含税）。全年普通股息1.25港元/股（含税），股息支付率达43.6%。

扎实推进科技自强自立，关键核心技术攻关能力不断增强，数智化转型进展顺利。中国首套500米级深水国产化水下生产系统稳定产气超亿方，“深海一号”成为世界首个具备远程遥控生产能力的超大型深水平台，流花油田首次实现台风模式远程生产，秦皇岛32-6智能油田核心业务数字化覆盖率达90%。

在保持业务稳健发展的同时，公司秉持“经济、环境与社会协调发展”的理念，积极履行社会责任。2023年，公司在基础设施建设、社区医疗救助及教育、促进就业、消除贫困、文化融合等方面实施慈善公益项目100余个，总计投入人民币达1.58亿元。

In 2023, in the face of complex external environment such as slowing global economic growth and falling international crude oil prices, the company has steadily promoted high-quality development, reached a record high in reserves and production, and maintained a high level of profitability. At the same time, it adheres to high standards of corporate governance, actively returns shareholders, and is highly recognized by the market.

Continued to accelerate the pace of production, the annual net oil and gas production of 678 million barrels of oil equivalent, an increase of 8.7%, set a record for five consecutive years. From 2019 to 2023, the compound growth rate of net production reached 7.6%, and the growth rate was in the leading position in the industry. The company continues to improve the efficiency of oilfield development, and the natural decline rate of offshore oil fields in China has steadily decreased, and the production hour rate has maintained a high operation. The Bohai oil field remains China's largest crude oil production base, while Guyana and Brazil remain the main areas of overseas production growth.

Adhering to value exploration and precise policies, the company made 9 new discoveries and successfully eva luated 22 oil-and-gas structures throughout the year, with net proven reserves of 6.78 billion barrels of oil equivalent, a reserve replacement rate of 180%, and a reserve life of more than 10 years for seven consecutive years. The company has obtained and eva luated several large oil and gas field discoveries and achieved strategic breakthroughs in domain exploration. In China, it has successfully eva luated the Bozhong 26-6 and Kaiping South oil fields of 100 million tons, and explored the first onshore deep coal seam gas field of 100 billion square meters. Overseas, the Guyana project won another 100 million ton oil field.

Adhering to the integration of exploration and development, and accelerating the pace of transformation of storage and production, the capital expenditure for the year was 129.6 billion yuan, a number of key projects were successfully put into operation during the year, and more than 40 projects are under construction. The company strengthens lean management of drilling and completion, shortens project development cycle, and brings production contribution in advance. Promote the application of engineering standardization, accelerate the capacity construction of new projects, and promote the cost reduction of mass procurement.

We will adhere to the strategy of green development, control energy consumption and carbon intensity at the source, and strive to increase the proportion of clean energy output. By 2023, China's offshore oil and gas fields will achieve full recovery and utilization of more than 50,000 cubic meters/day of flare gas. About 750,000 tons of carbon dioxide have been reduced through energy-saving technological reform. Strengthening natural gas business. Offshore, the Bozhong 19-6 condensate gas field Phase I development project, the first 100-billion-square-meter gas field in Bohai, was successfully put into operation. Onshore, three major unconventional natural gas industry bases have been established, and production has increased by about three times in five years. The construction of the three trillion-atmosphere areas in the South China Sea, the Bohai Sea and on land has been accelerated. In addition, offshore wind power and offshore carbon dioxide sequestration projects have been put into use, and green development has achieved results.

Further consolidating the cost competitive advantage, the main cost per barrel of oil was $28.83, down 5.1% year on year. Thanks to the sharp increase in net production and strong cost control, the company achieved total revenue of RMB 416.6 billion and net profit of RMB 123.8 billion for the whole year, maintaining strong profitability. The company's cash position is good, with free cash flow of RMB 88.87 billion. To share the results of the development with shareholders, the Board has recommended a final dividend of HK $0.66 per share (including tax). Annual ordinary dividend of HK $1.25 per share (tax included), dividend payout ratio of 43.6%.

We have steadily promoted self-reliance in science and technology, strengthened our ability to tackle key core technologies, and made smooth progress in the transformation of digital intelligence. China's first 500-meter-class deepwater domestic underwater production system has produced more than 100 million cubic meters of stable gas, "Deep-sea No. 1" has become the world's first ultra-large deepwater platform with remote control production capability, Liuhua oil field has realized typhoon mode remote production for the first time, and the digital coverage of core business of Qinhuangdao 32-6 intelligent oil field has reached 90%.

While maintaining the steady development of business, the company adheres to the concept of "coordinated development of economy, environment and society" and actively fulfills its social responsibility. In 2023, the company will implement more than 100 charitable projects in infrastructure construction, community medical assistance and education, employment promotion, poverty eradication, cultural integration and other aspects, with a total investment of 158 million yuan.