China Oilfield Services Limited announced that its controlling shareholder, China National Offshore Oil Corporation (CNOOC), has prolonged its ongoing shareholding-increase initiative by 12 months to 8 April 2027. The extension reflects CNOOC’s stated confidence in the company’s long-term prospects and follows a slower-than-expected execution pace caused by holiday market closures and shifting market conditions.

Under the original programme (9 April 2025 – 8 April 2026), CNOOC committed no less than RMB300 million and up to RMB500 million to acquire both A and H shares of China Oilfield through on-market transactions in Shanghai and Hong Kong, funded entirely with its own cash resources. All other parameters of the plan remain unchanged following the extension.

Progress to date: • Between 9 April 2025 and the announcement date (2 April 2026), CNOOC purchased 16.01 million H shares via the Hong Kong Stock Exchange, representing approximately 0.34 % of China Oilfield’s total issued share capital. • The cumulative outlay for these purchases amounted to RMB80.98 million, excluding taxes and charges. • Post-transaction, CNOOC holds 2,426.86 million shares (2,410.85 million A shares and 16.01 million H shares), equivalent to 50.86 % of the company’s issued share capital.

China Oilfield notes that market volatility could affect further execution, and investors are advised to consider associated uncertainties when evaluating the impact of the extended plan.