China Oilfield (02883) releases its 2026 strategic guidelines, estimating a capital expenditure of approximately 8.44 billion yuan to create a "1+2+N" market framework.

China Oilfield (02883) has announced the release of its 2026 strategic guidance based on the company's current production and operational status, as well as its understanding and analysis of future development. According to third-party forecasts, global oil demand is expected to remain stable in 2026, with global upstream exploration and development investment remaining basically flat compared to 2025. Capital expenditure for offshore exploration and development will remain stable. In the domestic market, the continuous stable exploration and development environment, as well as the important position of oil and gas in China's current energy consumption structure, will ensure a certain period of prosperity in the oilfield service industry. The company expects that its domestic business will remain robust in 2026, with overseas business showing stable growth. In 2026, the company will focus on achieving the development goal of building a world-class energy service company with Chinese characteristics. The core focus will be on cultivating and developing new productive forces in marine energy services, and the company will continue to implement the five development strategies of "technology-driven," "cost leadership," "integration," "internationalization," and "regional development" to further achieve value-centered integrated development. The company will plan the industrial development layout systematically, build a large-scale equipment resource guarantee system with sufficient flexibility and efficient allocation, accelerate the leap from running alongside to leading the way in major technological products, and focus on building a distinctive digital technology product ecosystem and service system, continuously shaping the "1+2+N" market layout of "domestic as the foundation, the Middle East and Southeast Asia as the wings, and driving the benign development of several potential overseas regions." Combining the actual implementation of the company's capital expenditure in 2025 and aligning with the company's development plans for the 14th and 15th five-year plans, the company preliminarily estimates that the capital expenditure in 2026 will be approximately RMB 8.44 billion, mainly for equipment investment and reconstruction, technology equipment upgrades, research and development investment, and base construction. The company always responds to industry and market uncertainties by ensuring the certainty of its cost control system and capabilities, and persists in making "long-term cost leadership" its core competitive advantage, fully integrating lean cost and lean benefit perspectives into all aspects of production and operations. The above strategic guidance is formulated based on the company's current operational status and market environment, and whether the company can achieve the expected operational results or development performance in 2026 will mainly depend on economic and market conditions. There is uncertainty in the expected operational results or development performance, and the company cannot guarantee that the above strategic guidance will be fully realized.