CNOOC Extends Shareholding Increase Plan in China Oilfield Services to 2027

An update from China Oilfield Services ( (HK:2883) ) is now available.

China National Offshore Oil Corporation, the controlling shareholder of China Oilfield Services Limited, has increased its stake in the company by 16,008,000 H shares since April 2025, bringing its total holding to about 2.43 billion shares, or 50.86% of the company’s issued share capital. The purchases, funded with CNOOC’s own capital and totaling roughly RMB81 million so far, are part of a broader plan to invest between RMB300 million and RMB500 million in A and H shares via stock exchange transactions.

Citing confidence in China Oilfield Services’ long-term prospects and the value of a sustained investment, CNOOC has decided to extend the duration of its shareholding increase plan by 12 months to 8 April 2027, while keeping all other terms unchanged. The extension signals continued strategic support from the state-owned parent and may be viewed by investors as a vote of confidence in the company’s future performance and stability of its shareholder structure.

The most recent analyst rating on (HK:2883) stock is a Buy with a HK$10.00 price target. To see the full list of analyst forecasts on China Oilfield Services stock, see the HK:2883 Stock Forecast page.

More about China Oilfield Services

China Oilfield Services Limited is a Chinese oilfield services provider listed in Hong Kong, serving the offshore oil and gas industry. The company offers a range of services including drilling, marine support, geophysical and logging services, primarily supporting the exploration and development activities of its controlling shareholder, China National Offshore Oil Corporation, and other upstream operators.

Average Trading Volume: 21,601,544

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$68.79B

For a thorough assessment of 2883 stock, go to TipRanks’ Stock Analysis page.