December 10

General Secretary, Jiang Zeming made an inspection tour to China Offshore Oil Bohai Corporation.

May 5

The signing ceremony was held in Los Angles, USA for farm-in 32.58% ARCO's rights in Malacca Strait block in Indonesia by CNOOC, and the contract became effective from January 1, 1994. This was the first overseas investment project of CNOOC in its move to open up the international market. CNOOC became the largest shareholder of the oil field.

February 4

The forth round of bidding for part of the sea areas in the offshore area of East China Sea closed with 18 petroleum contracts and geophysical agreements signed by and between CNOOC and 9 consortium formed by 15 international companies from 7 countries, accounting for 90% of the biding zones, covering an area of 62,446 sq.kms