Lates News

Dongxing Securities research report pointed out that CNOOC Service (601808.SH) as a global comprehensive marine oilfield service leader, its performance is expected to steadily increase in 2024, with first quarter performance in 2025 exceeding expectations with a net profit attributable to the parent company of 39.6% year-on-year growth. Breakthroughs in oilfield technology services highlight the growth potential of this cycle. The drilling sector benefits fully from the domestic energy security supply policy, with higher business prospects than foreign oilfield service companies. Looking ahead, the company is expected to rely on its major customer CNOOC to provide strong support for its domestic business in the fields of deepwater technology services. The oilfield technology services are expected to maintain good growth with technological breakthroughs and import substitutions. It is estimated that the company's net profit attributable to the parent for the years 2025-2027 will be 4.729, 5.859, and 7.487 billion yuan respectively, corresponding to EPS of 0.99, 1.24 and 1.57 yuan. It has been given a "strong buy" rating.