The Karazhanbas oilfield is located on the shore of the Caspian Sea in close proximity to refineries, pipelines and port facilities which supply oil to the major markets in Central Asia, Europe and the Middle East. It covers a gross area of approximately 160 square kilometers with a depth of up to 500 meters. The estimated proved oil reserves of the Karazhanbas oilfield in Kazahkstan were equivalent to 341.5 million barrels as of 31 December 2009. The average volume of oil production in 2009 was about 34,200 barrels per day. The quality of oil produced from the Karazhanbas oilfield is typically 19 degree API.

Oil has traditionally been produced in the Karazhanbas oilfield primarily through the recovery process known as Cold Heavy Oil Production with Sand (CHOPS) and water injection in the development drill area. Starting from 2005, pilot tests of the thermal enhanced recovery processes of Cyclic Steam Stimulation (CSS) and steam flooding technologies were implemented on a small scale in the eastern part of the oilfield.

Hainan-Yuedong Block is located in the Bohai Bay Basin in Liaoning Province, PRC. The principal field in the Hainan-Yuedong Block is Yuedong oilfield, According to an oil reserve evaluation report prepared by Sproule International Limited (an individual technical advisor), the principal field with the Hainan-Yuedong Block, the Yuedong oilfield, has an estimated proved undeveloped oil reserves of 11.8 million barrels as at 31 Dec 2009.

In October 2007, CITIC Haiyue, an indirect wholly-owned subsidiary of the Group, completed the acquisition of a 90% interest of Tincy Group from Far Great Investments Ltd. Tincy Group is the contractor who holds the right to explore, develop and operate the oilfield in the Hainan-Yuedong Block until 2034. Tincy Group will co-operate with China National Petroleum Corporation ("CNPC") to develop the Hainan-Yuedong Block and engage CNPC to carry out certain oil operations under the Petroleum Contract ("PSC") on terms to be agreed by Tincy Group and CNPC in an operation agreement.

In August 2009, the construction of foundations for oil drilling and the pre-drilling preparation on the pilot testing area on the first artificial island (the "Platform A") and two supplementary production platforms of the Yuedong oilfield were completed. The construction of production facilities was completed in December 2009. After a series of combined testing, the Platform A is now equipped with oil extraction capability.

At the end of 2009, drilling of ten wells was completed. Four of them will commence pilot production in 2H 2010 following the completion of the power supply system.

As soon as governmental approval of the overall development plan is obtained, the construction of three other artificial islands will commence. The construction of production facilities on these new artificial islands is tentatively scheduled to complete by the end of 2013 and thereafter full production should commence.

The Seram Non-Bula Block is located on Seram Island, Indonesia and covers an area of about 4,572 square kilometres. The principal field in the Seram Non-Bula Block is the Oseil Field. The Oseil field is located in the Seram Non-Bula PSC area on the island of Seram about 300 kilometers east of the city of Ambon. The field is located inland from the northeast coast of the island. As at 31 December 2009, the Seram Non-Bula Block had estimated proved oil reserves of 8.7 million barrels. The average production in 2009 was about 2,300 barrels per day (gross) of 15° to 22° API oil.

Discovery of the Oseil Field occurred in 1993 with the drilling of the Oseil-1 well, which found oil-bearing sections within the Manusela Carbonate. Since that time, nine additional wells, both vertical and horizontal, have been drilled to develop the field and have identified oil-bearing Manusela accumulations in four separate closures. Currently, oil has been produced from three of the four fault block closures. In the period from 1988 to 2002, the operator has drilled four exploration wells in the Seram Non-Bula Block, resulting in commercial oil discovery in the Oseil Field.