In 2023, Chinese companies focused on key areas for increasing production, accelerated the pace of production, and overseas oil and gas equity production was stable and increasing, reaching 188 million tons, an increase of 1.9% over the previous year. Among them, crude oil production was 149 million tons and natural gas production was 480 billion cubic meters. The increase in production mainly came from the production of new projects in countries such as Brazil, Guyana, and Australia. Looking at the situation of each company, CNOOC's overseas equity production was 30 million tons, an increase of 11% over the previous year, mainly benefiting from the production of Guyana's Liza Phase II, Payara project, and Brazil's Buzios 5, Brazil's Mero 2 projects and other projects. PetroChina's stable production was 102 million tons, which was stable compared with the same period last year, mainly benefiting from the production of a batch of landmark projects such as Mozambique, Niger Phase II, and the high-level operation of main projects in countries such as Abu Dhabi, Iraq, Kazakhstan, Turkmenistan, and Chad. Sinopec's annual production was 35 million tons, basically the same as the previous year, mainly benefiting from the increase in production of Egyptian projects to make up for the decline in production of other projects.