Core Viewpoint - The company, 德石股份 (301158), has confirmed that its screw drill tools and wellhead devices are widely applicable in marine oil and gas exploration and development, with usage in domestic waters such as Bohai Sea, East China Sea, and South China Sea, as well as in relevant overseas regions [1] Group 1 - The company's products include screw drill tools and wellhead devices [1] - These products are applicable in marine oil and gas exploration and development [1] - The company has a presence in both domestic and international markets [1]

Core Viewpoint - CNOOC Services is transforming into a technology-driven industry benchmark, focusing on breaking international monopolies in marine oil and gas exploration and ensuring energy security through advanced technology and innovation [5][10]. Group 1: Technological Advancements - CNOOC Services has invested over 1 billion yuan annually in R&D, leading to significant achievements such as the "Xuanji" rotary steering drilling system, which allows for precise directional drilling in hard rock formations [6][7]. - The "Xuanji" system has set records for drilling depth and temperature, reaching 6018 meters and 158°C, marking China's entry into the ultra-deep well sector [7]. - The company has developed a range of technologies, including the "Haimai" seabed seismic exploration system and "Haiheng" drilling fluids, achieving 95% international technology coverage [7][8]. Group 2: Integrated Innovation Ecosystem - CNOOC Services has established an integrated ecosystem for R&D, testing, production, and application, significantly shortening the time from R&D to commercialization [8][9]. - The company has expanded its product lines to 16, with over 2300 products, resulting in an increase in annual output value from 400 million yuan to 2.5 billion yuan [9]. Group 3: Market Expansion and Internationalization - The company has successfully entered international markets, securing a five-year service contract in the Gulf of Thailand worth 320 million yuan, marking a breakthrough in overseas oilfield chemical business [7][10]. - CNOOC Services operates in over 40 countries, with a comprehensive layout covering seven major business divisions, including exploration, drilling, and oilfield technology [10]. Group 4: Future Development Goals - The company aims to build a technology system that covers mainstream technologies, highlights core technologies, and develops unique technologies for competitive differentiation [10][11]. - CNOOC Services is focusing on advanced technologies such as underwater robots and remote-controlled operation robots, positioning itself to capitalize on emerging opportunities in the marine oil and gas sector [11].

Core Insights - The global marine oil and gas exploration and development investment is expected to reach $217.55 billion in 2023, accounting for 35.7% of total global oil and gas investment, marking five consecutive years of growth with a compound annual growth rate (CAGR) of 11% [1] - By 2025, marine oil and gas will account for approximately 79% of the global oil and gas (excluding unconventional onshore) newly proven reserves [1] - The report indicates that by 2025, global marine oil and gas production is projected to be 49.12 million barrels of oil equivalent per day, reflecting a year-on-year increase of 4.1% [2] Investment Trends - The marine oil and gas exploration and development investment is expected to grow by over 3% in 2026, representing about 36% of total global oil and gas investment [3] - Key drivers for growth include increased investment, technological advancements, cost reductions, and favorable resource endowments [2] Regional Insights - The Middle East and South America are leading the growth in marine oil and gas production, with the Middle East having the largest production share and South America showing the highest growth rate [2] - Saudi Arabia and Brazil are responsible for 63.7% of the global increase in marine oil production [2] China's Developments - China has made significant discoveries in marine oil and gas exploration, with five new discoveries and 22 evaluated oil and gas structures as of Q3 2025 [2] - By 2025, China's marine oil production is expected to reach approximately 68 million tons, contributing about 80% of the national oil production increase [2] - Marine natural gas production in China is projected to be around 30 billion cubic meters, reflecting a year-on-year increase of approximately 4 billion cubic meters [2]