R&D and Innovation
CNOOC was one of the first companies to realize that high-tech innovations play a key role to boost future growth and create competitive advantage. Therefore, CNOOC continuously improved its independent innovation capability. To realize its innovation plans, CNOOC established a technology innovation platform. The platform consists of three parts: The CNOOC Engineering Technology Center, several national technology centers and different postdoctoral stations. In 2011, CNOOC began to increase its investments in innovation. Total R&D spendings accounted for USD 900 mn in this year. One year earlier, the company already registered around 600 patent and utility model applications.
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Famous quotes containing the word innovation:
“Both cultures encourage innovation and experimentation, but are likely to reject the innovator if his innovation is not accepted by audiences. High culture experiments that are rejected by audiences in the creator’s lifetime may, however, become classics in another era, whereas popular culture experiments are forgotten if not immediately successful. Even so, in both cultures innovation is rare, although in high culture it is celebrated and in popular culture it is taken for granted.”
—Herbert J. Gans (b. 1927)