NAE:UM offers Korean fine dining in heart of Singapore

Chef Louis Han’s Michelin-starred restaurant blends modern techniques with the soulful essence of Korean flavors, creating multisensory dining experience SINGAPORE -- Tucked along a vibrant street lined with restaurants and bars in the heart of Singapore, NAE:UM quietly asserts itself as a symbol of Korean culinary evolution. Since its 2021 debut, the fine-dining restaurant has won accolades including a Michelin Star and the Michelin Guide Singapore’s 2022 Young Chef Award for its chef, Louis Han. Named after the Korean word for a “fragrance that evokes memories,” NAE:UM reflects Han’s vision -- to craft dishes that stir the past while embracing modern techniques. In a city renowned for its culinary diversity, the Korean chef has carved a niche with his “contemporary Seoul cuisine,” blending Western culinary styles with Korean heritage flavors. NAE:UM occupies a two-story space with an unassuming yet elegant exterior -- a pale lemon-yellow facade with a light wood door that invites guests into its warm, dimly lit interior. Inside, the design is minimalist yet comforting, setting the tone for an intimate dining experience. The staff greets guests by confirming reservations and guiding them to their seats, whether at the dining tables or the bar seating thoughtfully prepared for solo diners. The restaurant isn’t large, but what it lacks in size it makes up for in atmosphere. With an open kitchen at its corner, guests can observe the calm precision of Han and his team of Korean and local staff, quietly crafting each course with meticulous care. The chef occasionally steps out to introduce the dishes himself, adding a personal layer to the experience. Episode 9: A culinary story in nine acts Currently titled “Episode 9,” the tasting menu reflects Han’s storytelling approach to food. Offered in two formats -- the Signature Course at SGD 268 ($204) and the Classic Course at SGD 228 -- each nine-course journey includes the option of creative alcoholic or nonalcoholic pairings, including Korean traditional liquors -- a hit among international diners. The journey begins with a trio of amuse-bouches: a jorim tart topped with sea urchin; a buchimgae kimchi tartlet with crispy edges; and ganghwae, a refreshing bite of scallop, herbs and cucumber jelly. The next course, deokgalbi, reimagines the beloved Korean beef patty. Here, it's paired with a crispy rice puff and pickled cucumber, adding brightness and crunch. Tomato dongchimi is both nostalgic and new, combining marinated tomato, spring salad, horse mackerel sashimi and caviar in a broth that nods to traditional water kimchi but is elevated with a slick of chili oil and a foundation of cucumber jelly. Memilmyeon, or buckwheat noodles inspired by Han’s childhood, arrives adorned with abalone, flying fish roe and white kimchi sliced into the shape of a flower. The dish bridges past and present -- a tribute to the simple noodle meals his parents prepared on weekends, now transformed into a flavor-rich homage. Next is chogye, a reinterpreted cold chicken soup, featuring zucchini blossoms stuffed with chicken and a pea-based broth poured tableside refreshingly acidic. As the warm dishes begin, the complexity of Han’s technique deepens. Perhaps the standout dish of the evening is Diamond, made with diamond fish, named not just for its rarity but its value. The fish, similar in texture to cod or salmon, is served with a creamy doenjang (fermented soybean) sauce, thinly sliced radish and doenjang-marinated vegetables. The so galbi includes smoky beef short rib, a tofu soy reduction and grilled perilla-stuffed onion, served with your choice of artisanal knife made from olive wood, buffalo horn or deer antler. A side of kale salad adds contrast, though its texture may not appeal to everyone. The penultimate savory course, gulbi, is a labor of love. Han personally dries and salts the yellow corvina, a rarity in Singapore. It’s served over stone pot rice with sesame oil and three Korean side dishes: white kimchi, wood ear mushrooms and dubujang (tofu sauce). Guests may choose their rice portion -- another thoughtful touch in an already meticulous experience. Sweet endings, rooted in tradition Dessert begins with ddalgi, a strawberry yogurt sorbet with white asparagus mousse -- a delicate balance of sweet and savory. Then comes a juak, a Korean rice doughnut served warm over truffle cream and finished with Martell XO cognac. Rich and aromatic, it feels like a finale in itself. The meal concludes with a quartet of traditional sweets: jeongpyeon (fermented rice cake), gangjeong (crispy puffs), omija jelly and sujeonggwa (spiced punch). The latter, aged for a month and rich with cinnamon, aids digestion while offering a final floral note. NAE:UM offers a meal composed of narrative told through taste, memory and culture. Chef Louis Han masterfully fuses Korean tradition with modern elegance, creating a dining experience that’s both intimate and expressive. Reservations are highly recommended. Allow at least two hours for the full course experience. As Korean cuisine gains global recognition on the back of international hit dramas and shows, a new wave of chefs is bringing refined, modern interpretations of traditional flavors of Korea to cities around the world. This is part of a series that introduces Korean fine dining outside of South Korea. --Ed.

S-Oil donates W100m to support orchestra for disabled youth

South Korean oil refiner S-Oil announced Wednesday it donated 100 million won ($73,000) to the non-profit Heart to Heart Foundation ahead of the 45th Day of People with Disabilities on April 20. The funds will support an orchestra of musicians with developmental disabilities and help run disability awareness education for students and the public. The Heart to Heart Foundation established Korea’s first developmental disabilities orchestra in 2006. S-Oil has supported the foundation since 2009, marking its 17th year of continued sponsorship. The company also holds weekly performances with the orchestra at its headquarters and local community centers, promoting inclusion through music. Recognized for its efforts, S-Oil has been named an outstanding contributor to cultural arts sponsorship by the Ministry of Culture, Sports and Tourism and the Arts Council Korea every year since 2020. “The music played by these young musicians was beautiful and moving,” said S-Oil CEO Anwar Al-Hejazi. “We will continue to support their talent and fulfill our social responsibility.”

Once gritty industrial area, Seongsu now a K-fashion, beauty destination

With its repurposed factory buildings now home to trendy pop-up stores and fashion and beauty flagship stores, Seongsu is a must-visit destination for the style-conscious Once an industrial district, Seongsu in Seoul has been drawing increasing international attention for K-fashion and beauty. The neighborhood, historically known for its flour mills and handmade shoe shops, has been transformed into a popular trendsetting center for fashion and beauty, attracting tourists and young locals alike. Seongsu was primarily an industrial area until the late 20th century, home to numerous small factories. By the late 1990s, the area gained its reputation as the hub of Korea's footwear industry, with many shoe manufacturers setting up shop in the district. However, in recent years, Seongsu has evolved into a cultural and retail destination, with unique brands and stylish spaces replacing the factories and workshops. Seongsu began its transformation into a trendy hotspot in the 2010s. Factory buildings were repurposed as cafes, design studios, workshops and galleries. One notable example is Daelim Changgo, built in the 1970s, which was converted into a cultural complex. This space soon became a symbol of Seongsu’s rise as a new cultural district, with hip cafes and restaurants populating the area, making it a favorite destination for young people and influencers on social media. The neighborhood’s evolution accelerated after the COVID-19 pandemic waned, as brands began to focus on experiential marketing. Seongsu gained attention as a prime location for pop-up stores, with major brands such as Dior and Tamburins opening eye-catching permanent locations in the area. As pop-up stores became a popular cultural phenomenon, Seongsu became a must-visit destination for the 20s and 30s demographic, with several universities nearby, including Hanyang University, Konkuk University and Sejong University. According to Seoul Metropolitan Subway data, Seongsu Station on Metro Line No. 2 saw over 30 million passengers enter in 2024 -- a significant jump from 18.5 million in 2014. This 57 percent increase over the past six years highlights the district’s rapid transformation. Today, Seongsu is gaining attention internationally as a popular shopping destination, particularly for K-fashion and beauty. Notable stores include Adidas Originals Flagship Seongsu, Musinsa Standard, Stand Oil and Adererror, all of which have garnered significant attention on platforms like TikTok. Adidas opened its new flagship store in Seongsu April 4, combining street culture with iconic Adidas products. The store features reinterpreted classics like the Superstar, Samba and Gazelle, using traditional Korean ceramics and lighting. The store’s design integrates elements of Seongsu’s industrial architecture, with red brick walls reflecting the area’s unique vibe. "This store in Seongsu embodies Adidas' new 'identity' that can't be found anywhere else. By incorporating Korean elements into Adidas' signature products, it will become a flagship store that foreign visitors will also enjoy,” said Preston Page, vice president of retail at adidas Korea. In September, Musinsa, a prominent local fashion platform, opened the Musinsa Store Seongsu @ Daelim Changgo, offering a variety of popular Korean designer brands and overseas sneaker brands. It has become an essential destination for K-fashion enthusiasts and features tax refund services for customers from overseas. Nearly 44 percent of Musinsa Store Seongsu’s total sales last year came from foreign visitors. A representative from Musinsa stated, "As interest in Korean designer brands increases, foreign tourists continue to visit the Musinsa offline store in Seongsu, where they can experience and purchase products firsthand." Beauty brands are also embracing Seongsu as a space to engage with international consumers. The indie beauty brand BBIA opened a flagship store in the neighborhood in late March. The store drew nearly 10,000 visitors in its first five days and achieved its highest offline sales in history. The brand’s prelaunch reservation event sold out in just eight minutes, reflecting the high demand for unique, locally-focused experiences. "The importance of offline spaces that maximize brand experience is growing in the online-centered cosmetics market. With the opening of this flagship store, we aim to expand our point of contact with consumers and provide a differentiated brand experience in order to secure continuous growth momentum,” said BBIA CEO Park Kwang-choon. Foreign tourist spending in Seongdong-gu, where Seongsu is located, reached approximately 74.8 billion won ($51,089,406) in 2023, an 83 percent increase from the previous year, according to the Korea Tourism Organization. As Seongsu continues to shine as a local cultural and retail hub, it is poised to become a more powerful player in the international fashion and beauty market as well. The neighborhood’s blend of trendy, locally-produced goods and Korean culture is attracting a diverse international audience, making Seongsu a must-see destination for those looking to experience the cutting edge of K-style. "Unlike traditional shopping districts like Myeongdong or Gangnam, Seongsu offers a differentiated shopping experience with many emerging designer brands and local boutiques. Foreign tourists are actively seeking 'brands that can only be found in Korea,' making it a must-visit shopping destination,” an industry insider pointed out.

HABANOS, S.A. CELEBRATES THE 180TH ANNIVERSARY OF PARTAGÁS WITH THE EXCLUSIVE LAUNCH OF "CEDROS" IN COMMEMORATION OF THE CHINESE NEW YEAR

HAVANA, April 11, 2025 /PRNewswire/ -- Habanos, S.A. commemorated the 180th anniversary of the prestigious Partagás brand with the launch of its new vitola "Cedros" (50 ring gauge x 135 mm de length) at an event held at the Murray Hotel in Hong Kong. The evening brought together more than 180 guests, who enjoyed a dinner specially designed for the occasion in a festive atmosphere full of tradition. This exclusive edition celebrates the Year of the Snake (Wood). According to the Chinese lunar calendar, the snake represents qualities such as wisdom and wood represents strength and capacity for growth. Undoubtedly, a perfect opportunity to pay tribute to the fundamental role that such a noble material as wood has played in preserving the aromas and organoleptic qualities of Habanos throughout history. Partagás "Cedros" is a limited specialty that stands out for its neat presentation in an elegant box containing 18 Habanos. Each of these Habanos has been "Totally Handmade with Long Filler" using selected wrapper, filler and binder leaves coming from the Vuelta Abajo* plantations, in Pinar del Río*, Cuba*. This region is recognized worldwide as the cradle of what is considered the world's best tobacco, thanks to its exceptional soils, unique climate and centuries-old tobacco growing tradition. These conditions allow for the production of leaves of unparalleled quality, which are essential in the production of the most prestigious Habanos. Thanks to this superior selection, Partagás "Cedros" offers a smoking experience rich in flavor and perfectly balanced strength, making it a must-have for lovers of good smoking. The Cedros vitola (50 ring gauge x 135 mm length) represents the perfect combination of exclusivity, tradition and excellence, characteristics that have consolidated Partagás as an emblem within the Habanos offer. Beyond celebrating the Chinese New Year, this launch stands as a tribute to the brand's rich history, which for 180 years has been a benchmark of quality and prestige in the cigar industry. This special edition will be available through exclusive Habanos, S.A. distributors. With this launch, Partagás reaffirms its commitment to tradition, innovation and excellence, offering aficionados a unique Habano that embodies the essence of a brand known for its character. Partagás "Cedros": Brand: Partagás Market name: Cedros Factory name: Dignos Dimensions: 50 Ring gauge x 135 mm de length Presentation: Special case of 18 units with NFC technology in the box and foot ring Wrapper: light brown, smooth, silky, oily and shiny Tasting notes: Draw: excellent Ash: compact Strength: strong Smoking time: around 45-50 minutes The Partagás Cedros presents unique dimensions within the brand's portfolio, which offer an enriching smoking experience when combined with the strong strength characteristic of this prestigious Habanos brand. In its first third, it displays a clean taste of Cuban dark tobacco that evolves into subtle notes of cocoa and oak as the smoke progresses. With a length of 135 mm, this vitola gives a dense smoke that achieves a well accentuated permanence in the aftertaste. Pairing suggestion: Partagás Cedros is an invitation to pair it with robust, long-aged spirits. Preferably, those aged naturally in white oak barrels whose refinement develops a profile with subtle notes of nuts, chocolate or vanilla. When combined with the Habano, this symphony of flavors generates an exceptional sensory experience. To download high resolution product images click here.

Sinopec Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield

Shengli Oilfield leads exploration breakthroughs with theoretical innovation, stimulates cost reduction and efficiency improvements with technological progress, and boosts both quantity and quality enhancements with equipment upgrades, driving shale oil exploration and development in China to new heights. ZIBO, China, April 1, 2025 /PRNewswire/ -- China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec" or "the Company") announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfield's Jiyang shale oil national demonstration zone in East China's Shandong province on March 24, 2025. This is the first shale oil field with proven geological reserves of over 100 million tonnes that has been certificated by China's Ministry of Natural Resources. Shengli Oilfield has developed advanced automated drilling equipment that extracts efficiently, and explored horizontal well optimization and fast drilling technology, and dense cutting combined seam network volume fracturing technology. The average drilling cycle has been reduced from 133 days to 29.5 days, and the drilling cycle of 6,000-meter wells has reached 17.7 days, and the single well production capacity has continued to set new records. "Through 150,000 times of indoor experiments, we developed the theory of shale oil enrichment in continental fault lake basins, reshaping the traditional common understanding that shale oil can only be enriched and mobilized when its maturity is higher than 0.9%," shared Liu Huimin, Vice President and Chief Geologist of Sinopec Shengli Oilfield Branch. "With the support of this theory, the amount of shale oil resources in Jiyang has tripled after re-evaluation." Shengli Oilfield has tackled challenges of high temperature, pressure, and leakage in shale oil development. By advancing reserve-fracture-pressure theories, developing full-cycle 3D technologies, and building an integrated geological engineering platform, it expanded shale oil development from three to seven layers, addressing extraction efficiency and maximizing resource recovery. Sun Yongzhuang, Assistant to President of Sinopec Group and Managing Director of Shengli Petroleum Administration Bureau Co., said estimated shale oil resources in Shengli Oilfield have reached 10.5 billion tonnes, equivalent to the conventional oil and gas resources recovered during the past 60 years in China. "After more than 10 years of continuous research and innovative breakthroughs, Shengli Oilfield is expected to add 80 million tonnes of proven reserves this year through the integrated promotion of exploration and development," Mr. Sun said. Sinopec is ramping up its shale oil exploration and development efforts, achieving key breakthroughs in multiple areas. In January 2021, the Company tested a high-yield shale oil and gas well at the Fuling shale gas field in Chongqing, with shale oil production surpassing 30,000 tonnes for the first time in 2024. By December 2021, Sinopec identified a favorable area of 420 square kilometers in the Qintong Depression of the Northern Jiangsu Basin, with shale oil resources totaling 350 million tonnes. In July 2022, a Northern Jiangsu Basin well yielded more than 30 tonnes of oil and 1,500 cubic meters of natural gas daily, activating 1.1 billion tonnes of shale oil resources. Sinopec's 2024 shale oil production reached 705,000 tonnes, up 308,000 tons year-over-year. Jia Chengzao, an Academician with the Chinese Academy of Sciences and an expert in petroleum and structural geology, said shale oil is a key resource for boosting and stabilizing domestic crude oil production, commenting, "Proven reserves are the core indicator supporting current production. In January, the Ministry of Natural Resources issued specifications for estimating oil reserves in shale formations, marking a new stage of normalization and standardization in China's shale oil resource management." For more information, please visit http://www.sinopec.com/listco/en/.

CNOOC Limited Announces A Hundred-Million-Ton Oilfield Discovery of Huizhou 19-6

HONG KONG, March 31, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces today that the Company has made a major oilfield discovery of Huizhou 19-6 in the deep and ultra-deep plays of the South China Sea, which adds over a hundred million tons of oil equivalent in-place. Huizhou 19-6 oilfield is located in the eastern South China Sea, with an average water depth of approximately 100 meters. The main oil-bearing plays are Paleogene Enping Formation and Wenchang Formation, and the oil property is light crude. The discovery well HZ19-6-3 was drilled and completed at a depth of 5,415 meters, which encountered a total of 127 meters oil and gas pay zones. The well was tested to produce 413 barrels of crude oil and 2.41 million cubic feet of natural gas per day. Through continued exploration, the proved in-place volume of Huizhou 19-6 oilfield has exceeded a hundred million tons of oil equivalent. Mr. Xu Changgui, the Chief Geologist of the Company, said, "In recent years, CNOOC Limited has strengthened the research on exploration theory and technology of the deep and ultra-deep plays in the South China Sea, and breakthroughs have been achieved. This discovery has confirmed the largest integrated clastic oilfield in the northern South China Sea in terms of original oil in place, breaking the traditional theoretical understanding, and demonstrating the enormous exploration potential of deep and ultra-deep plays in high-temperature and highly active basins offshore China." Mr. Zhou Xinhuai, CEO of the Company, said, "CNOOC Limited has made numerous breakthroughs in oil and gas exploration in the eastern South China Sea. Oilfields with hundred-million-ton oil in-place have been discovered in this area for two consecutive years, making it a new driver of the offshore oil and gas production growth. The Company will continue to strengthen its efforts in oil and gas exploration and development, to consolidate the resource base for increasing reserves and production, so as to bolster the high-quality development of the Company." — End — Notes to Editors: More information about the Company is available at http://www.cnoocltd.com. *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. *** *** *** *** For further enquiries, please contact: Ms. Cui Liu Media & Public Relations CNOOC Limited Tel: +86-10-8452-6641 Fax: +86-10-8452-1441 E-mail: mr@cnooc.com.cn Mr. Bunny Lee Porda Havas International Finance Communications Group Tel: +852 3150 6707 Fax: +852 3150 6728 E-mail: cnooc.hk@pordahavas.com

CNOOC Limited Announced Its 2024 Annual Results

Reserves and Production Reached New Plateau Profit and Dividend Recorded Double-Digit Rise HONG KONG, March 27, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announced today its 2024 annual results for the year ended December 31, 2024. CNOOC Limited continued to capture high-quality growth over 2024. Despite the challenging macroeconomic trends, CNOOC Limited stuck to its strategy of increasing reserves and production while strictly controlling costs. The Company's capability of value creation has been enhanced and breakthroughs in technological innovation and green development have been attained. CNOOC Limited adopted multiple measures to tap into its production potential. New records of production have been set for multiple years in a row. In 2024, the Company recorded a net oil and gas production of 726.8 million barrels of oil equivalent ("BOE"), a YoY increase of 7.2%. In China, thanks to the contributions from Bozhong 19-6 oilfield and other oil and gas fields, net production rose by 5.6% YoY. Overseas, the commissioning of projects including Payara project in Guyana drove the net production to surge by 10.8% YoY. CNOOC Limited adhered to a value-driven exploration strategy, and expanded its resource base. 11 oil and gas discoveries were made throughout the year and 30 oil and gas structures were successfully appraised. By the end of 2024, the net proved reserves reached 7.27 billion BOE, up by 7.2% YoY. The reserve life of the Company remained at 10 years. CNOOC Limited continued to innovate exploration theories and technologies. In China, multiple discoveries were made under the guidance of the exploration theories, including Longkou 7-1, Qinhuangdao 29-6, Huizhou 19-6, and Lingshui 36-1. Overseas, the Company expanded its global exploration footprint along the Atlantic rim and the "Belt and Road" countries. This year, CNOOC Limited was awarded petroleum contracts for 10 exploration blocks in Mozambique, Brazil and Iraq. CNOOC Limited accelerated the development of new quality productive forces, which had remarkably enhanced its operational efficiency. Asia's first cylindrical FPSO, Haikui-1, and Asia's tallest deepwater jacket platform, Haiji-2, were put into operation. This combination created a new model for deepwater oil and gas fields development, and enabled efficient and cost-effective extraction of oil and gas resources. Digital and intelligent transformation progressed steadily. A batch of smart oil and gas fields, such as "Shenhai-1" and Qinhuangdao 32-6 oilfield, were built, and the unmanned rate of offshore platforms steadily increased. Standardized engineering and construction were promoted, effectively accelerating project progress. Several key projects of the year were commissioned ahead of schedule. In 2024, the Company's capital expenditure reached RMB132.5 billion, strongly supporting new projects development and production growth. CNOOC Limited upheld its commitment to sustainable development, prioritizing production safety and actively exploring green transition pathways. During the year, the Company effectively managed challenges such as super typhoon "Yagi", and ensured stable operation of the offshore oil and gas fields. Green and low-carbon production of oil and gas resources yielded tangible results. Wushi 23-5 oilfields, the first green design oilfield offshore China, was put into production. The three phases of the Bohai onshore power project realized full operation. A total of 760 million kilowatt-hours of green electricity was used by the Company in 2024. Within the year, the world's first 16-megawatt tension-leg floating wind power platform commenced construction, with a designed annual power generation capacity of 54 million kilowatt-hours. At the same time, CNOOC Limited steadily advanced its carbon-neutral and carbon-negative sectors. The Daya Bay CCS/CCUS cluster research and demonstration project progressed steadily, and two offshore CCUS bases in the Bohai Sea and Hainan were under construction. CNOOC Limited maintained lean management, kept profitability at a high level and navigated through oil price cycles with outstanding performance. In 2024, the oil and gas sales of the Company was RMB355.6 billion and the net profit attributable to equity shareholders reached RMB137.9 billion, up by 11.4% YoY. The all-in cost was US$28.52 per BOE, a decrease of 1.1% YoY, further reinforcing its cost-competitive advantage. To share the achievements of development with shareholders, the Board of Directors has recommended a final dividend of HK$0.66 per share (tax inclusive). The annual dividend is HK$1.40 per share (tax inclusive). The dividend payout ratio stood at 44.7%, fulfilling the company's dividend commitment to a high standard. CNOOC Limited actively fulfilled its corporate social responsibilities, and strove to maximize its social contributions. In 2024, the Company provided over 22,000 jobs in more than 20 countries and regions worldwide. Community co-development initiatives were promoted. In particular, its local talent development program in Uganda was selected to the Award List of the Fifth Global Solicitation on Best Poverty Reduction Practices Campaign. Mr. Wang Dongjin, Chairman of the Company, said, "In 2024, we drove reserve and production growth through technological innovations, solidified our development foundation with cost advantages, and rewarded shareholders' trust with stable dividends. Looking ahead, CNOOC Limited will continue to increase reserve and production, enhance quality and efficiency, deliver tangible results to better reward shareholders, and to write a new chapter of high-quality development." — End — Notes to Editors: More information about the Company is available at http://www.cnoocltd.com. *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. *** *** *** *** For further enquiries, please contact: Ms. Cui Liu Media & Public Relations CNOOC Limited Tel: +86-10-8452-6641 Fax: +86-10-8452-1441 E-mail: mr@cnooc.com.cn Mr. Bunny Lee Porda Havas International Finance Communications Group Tel: +852 3150 6707 Fax: +852 3150 6728 E-mail: cnooc.hk@pordahavas.com

Hyundai E&C lifts Korea’s heaviest petrochemical equipment into place

Hyundai Engineering & Construction announced Thursday that it has successfully installed Korea’s largest propylene fractionator at S-Oil’s Shaheen ethylene facility construction site in Ulsan. The newly installed fractionator, a key component in propylene production, stands 118 meters tall, has a diameter of 8.5 meters and weighs 2,370 metric tons — making it the heaviest piece of petrochemical equipment ever built in the country. Hyundai E&C transported the massive structure, equivalent in height to a 50-story apartment building, from the unloading dock to the construction site. The company successfully erected it in just 14 hours using a tower lifting system. The Shaheen Project is a 9.3 trillion won ($6.8 billion) investment to build advanced petrochemical facilities, aimed at strengthening the oil refiner’s growth drivers. The project, located within the Onsan National Industrial Complex, spans 880,000 square meters, an area roughly the size of 120 soccer fields. As the lead contractor, Hyundai E&C is executing Package 1 of the ethylene facility construction in collaboration with Hyundai Engineering and DL E&C. This package includes the construction of the world’s largest steam cracker, incorporating thermal-crude-to-chemical technology, or TC2C, that directly converts crude oil into petrochemical feedstocks. Beyond the propylene fractionator, the cracking heater measures 68 meters in height and weighs 3,200 tons. The heater plays a vital role in breaking down raw materials such as naphtha and LPG through thermal decomposition to produce ethylene and propylene. According to Hyundai E&C, the project’s civil engineering phase alone requires 333,749 cubic meters of concrete — equivalent to the load carried by 60,000 ready-mix concrete trucks. Additionally, 98,634 tons of steel will be used, enough to construct 14 Eiffel Towers, as told by the company. Hyundai E&C is committed to ensuring the world's first commercial operation of TC2C technology. With construction over 60 percent complete, the company plans to finish steam cracker installation in the first half of the year. Once operational, the facility will produce 1.8 million tons of ethylene annually, along with other key petrochemicals. Trial operations will start in the second half of this year. Following the Shaheen project's completion in the first half of 2026, commercial production of ethylene, basic petrochemicals and polyethylene is expected to begin in the second half of the year. "Despite the enormous scale, Hyundai E&C’s extensive global project experience and EPC expertise have enabled us to stay ahead of schedule," a Hyundai E&C official said. "We are confident that we will complete the project by June next year, setting a new milestone in Korea’s petrochemical plant construction industry."

Abler Nordic, Livelihoods Funds, Musim Mas, and Temasek Foundation Launch Blended Finance Initiative on Sustainable Oil Palm to Combat Deforestation and Aim to Support at least 400 Smallholders

SINGAPORE, March 24, 2025 /PRNewswire/ -- Impact fund manager Abler Nordic has partnered with Temasek Foundation, a Singapore-based philanthropic organisation that drives impact programmes in Asia, together with sustainable palm oil producer Musim Mas, and Livelihoods Funds to launch the Sustainable Oil Palm Replanting in Indonesia (SOPRI) project. The pilot initiative facilitates access to financing and resources for smallholders to sustainably replant oil palms, increasing their income while preventing forest encroachment. In Indonesia, smallholders cultivate over 40% of the country's oil palm land but face a significant challenge: aging oil palms that reduce yields, making replanting an urgent and costly necessity. Without access to affordable financing, some smallholders may expand into rainforest areas, accelerating deforestation and climate change. The SOPRI project is a key component of Abler Nordic's broader Climate Smart Fund—launched in the pilot phase with funding from the Norwegian Ministry of Climate and Environment—combining public, philanthropic, and private capital to create deforestation-free value chains and support smallholder resilience projects. Temasek Foundation strengthens this blended finance model by setting aside catalytic capital to guarantee and derisk loans to smallholders for the SOPRI project, thereby reducing financing costs for smallholders and de-risking private investment. In its first phase, the SOPRI project will support 400 smallholders across 400 hectares in Sumatra, offering long-term replanting loans, financial literacy training, sustainability certification, land title support, and participatory village planning to promote responsible land use. In return, smallholders commit to avoiding forest encroachment, monitored through satellite and on-the-ground checks. The project is designed to demonstrate that sustainable replanting is both financially viable and scalable, with future phases aiming to reach over 20,000 smallholders. The Climate Smart Fund will act as the lead organisation, managing financial operations and coordinating implementation with local partners such as Koltiva and Bank Amar. Musim Mas is providing technical support to help smallholders achieve sustainable palm oil certification and access markets, while Livelihoods Funds brings expertise in training and certification to help farmers transition to sustainable practices. Beyond replanting, the project is also exploring climate-resilient agroforestry models, integrating oil palms with shade trees and cash crops to improve soil health, regulate microclimates, and support smallholders in adapting to climate change. Abler Nordic now aims to expand the broader Climate Smart Fund from the initial USD 10 million fund to 40 million USD in its first close, using a mix of investor capital, guarantees, and grants to scale concrete and sustainable climate action. Arthur Sletteberg, Managing Director of Abler Nordic, said: "Building long-term relationships with local smallholders, communities and partners is at the heart of our work. What we're doing is complex and unprecedented in many ways, but the results so far demonstrate that we have the right model and risk mitigation to expand the Climate Smart Fund and create long-term, meaningful change for both smallholder farmers and the climate." Sébastien de Royer, Senior Project Manager – Southeast Asiaof Livelihoods Ventures, said: "At Livelihoods Ventures, we believe in long-term solutions that address challenges at their root. Through this partnership, we aim to empower smallholders with the technical support and advisory needed to transition to sustainable and resilient farming systems." Mr Rob Nicholls, General Manager of Projects and Partnerships, Musim Mas, said: "This initiative is not just about financial support; it is about empowering smallholders with the knowledge and resources they need to implement sustainable practices. We believe that through collaboration and commitment, we can create a positive impact on both the environment and the communities involved in palm oil production." Ms Heng Li Lang, Head of Climate and Liveability of Temasek Foundation, said: "This pilot initiative will be a game-changer. By unlocking financing with catalytic capital, smallholders can replant sustainably without bearing huge financial risks. Temasek Foundation is committed in collectively building this Public-Private-Philanthropic partnership with Abler Nordic, Livelihoods Funds and Musim Mas in Nature-based Solutions. We are not only driving positive environmental impact, but also paving the way for scalable and meaningful long-term solutions." Media contact: Devane Sharma, Corporate Communications Department Email: media@musimmas.com Phone: (65) 6576 6500 Media Enquiries: (65) 9012 1582 (WhatsApp Calls only)

Sundubujjigae, spicy delight

Sundubujjigae is a comforting and versatile Korean stew that offers a satisfying combination of soft tofu, or sundubu, savory pork and earthy oyster mushrooms. The dish can be customized to suit your spice tolerance, with the option to adjust the level of red chile pepper powder (gochugaru). The addition of eggs, cooked directly in the simmering broth, adds richness and texture to the dish, making for a perfect balance of flavors. While the recipe calls for soft tofu, feel free to substitute with silken tolfu, or yeondubu, if needed, as it will provide a similar creamy texture. For those seeking an even heartier meal, try adding shellfish for added depth. This dish pairs beautifully with steamed rice and is an excellent way to enjoy the comforting warmth of Korean home cooking. Try this recipe from the Hansik Promotion Institute Ingredients 500 grams soft tofu (sundubu) 100 grams ground pork 100 grams oyster mushrooms 1 tablespoon vegetable oil 875 ml water pinch of salt 4 eggs Seasoning 1 tablespoon red chile pepper powder (gochugaru) 1 tablespoon sesame oil 1 tablespoon minced green onion 1 teaspoon minced garlic 1 tablespoon soy sauce for soup (gukganjang) 2 tablespoons water Serves 4. Preparation Drain the soft dubu in a colander and break into large pieces. Shred the oyster mushrooms into thin strips. Mix gochugaru well with sesame oil, then combine with the minced green onion, minced garlic, soy sauce for soup, and water to make the seasoning. Cooking Heat a medium saucepan over medium heat and add the vegetable oil. Stir-fry the ground pork with the spicy seasoning. When the pork is cooked, add 3 1/2 cups of water and bring to a boil. When it boils, add the soft dubu and oyster mushrooms and reduce the heat to low. Simmer for 10 minutes and season to taste with salt. Divide the stew into 4 small individual saucepans and add an egg to each saucepan. Bring them to a boil until the egg whites are cooked. You could also cook the stew in a large saucepan and add the beaten eggs over the stew just before serving. Ladle into individual bowls. Tip There are many types of tofu. Soft tofu, or sundubu, is made by coagulating soymilk protein without draining the water. Soft tofu is known for its characteristically mild taste. If soft tofu is unavailable, silken tofu, or yeondubu, is recommended over firm tofu. Soft tofu is usually packaged in a cylindrical shape.