CNOOC Limited operates as an investment holding enterprise, primarily engaged in the exploration, development, extraction, and commercialization of crude oil and natural gas. Its extensive global operations cover offshore China, alongside a significant international presence in countries including Canada, the United States, the United Kingdom, Nigeria, Argentina, Indonesia, Uganda, Iraq, Brazil, Guyana, Russia, and Australia. The company's activities are managed across three distinct business segments: Exploration & Production (E&P), Trading, and Corporate functions.