Abstract: Based on deeply analyzing the application situation of exploration portfolio, this paper expounds in detail the research and application of management idea of exploration portfolio of CNOOC in recent years, emphasizing the major controlling factors and technical strategies with respect to management of exploration portfolio and the case study in selecting and optimizing the annual exploration allocation of branch companies by use of the exploration portfolio system. The results indicate that management idea of exploration portfolio plays an important role in optimizing the allocation of funds and exploration target and guiding geological evaluation, etc, and its application results come to be important scientific basis in formulating major exploration strategies and compiling exploration plan in CNOOC

Key words: CNOOC, exploration portfolio, management idea, exploration plan