China Petrochemical and Rosneft will jointly develop two oil and gas fields in Russia.
-These two oil and gas fields are Ruskoye oil and gas field and Yurubchenko-Toholm oil and gas field, both of which are located in the key business areas of Rosneft.
September 3, Beijing. Under the witness of China president and Russian President, Wang Yupu, chairman of China Petrochemical Group (China Petrochemical), and Xie Qin, president of Russian oil company, signed a framework agreement on cooperation in the development of Roskoye oil and gas fields in Russia and Budchenko-Toholm oil and gas fields in Yulu.
According to the agreement, China Petrochemical has the right to acquire 49% shares of Russian oil companies East Siberia Oil and Gas Company and TNK Oil and Gas Company. The two companies have development licenses for Ruskoye oil and gas field and Yurubchenko-Toholm oil and gas field respectively.
The two sides believe that the oil and gas fields involved in the agreement have broad development prospects, and the oil and gas fields are located in the key business areas of Rosneft. * * * Joint development of tight crude oil storage will help both parties reduce the operational risk of the project. Cooperation will also enhance the strength of the project in terms of capital, technology and implementation capacity. The two sides look forward to further expanding exploration and development cooperation.
China Petrochemical and Rosneft are important partners in production and business activities. Prior to this, the cooperation between the two sides in Udmurt oil project and Sakhalin 3 project achieved good results.
Next, the two sides will set up a joint technical working group to determine the final investment plan and finalize the final agreement text. The final result of the transaction will depend on a series of standard conditions and the approval of relevant state departments.
China Petrochemical will become a strategic investor of Sibr.
20 15 On September 3rd, Beijing-China Petrochemical Group (China Petrochemical) and Russian Sibr Group signed a strategic investment agreement during Russian President Putin's state visit to China today. China Petrochemical will buy shares in Sibr and become its strategic investor. The arrangement of this agreement is an important step for the two sides to deepen their existing strategic cooperation.
Both sides believe that China Petrochemical's strategic investment in Sibr will further strengthen their market leading position and Sino-Russian partnership. This investment will take effect after the approval of the board of directors and relevant regulatory agencies of both companies.
Wang Yupu, Chairman of China Petrochemical Company, said: "Sibr's integrated development direction of resources and petrochemicals is highly compatible with Sinopec's main business. This strategic investment is in line with the overall requirements of the overseas strategic layout of China Petrochemical's chemical business. The continuous cooperative partnership between the two parties will help Sinopec to ensure the long-term source of petrochemical products and diversify them. This cooperation is also a positive attempt to implement the Belt and Road development strategy and will further deepen the Sino-Russian strategic partnership of cooperation. "
Leonid Mikhelson, Chairman of Sibr, said: "As a leading global energy and chemical enterprise, China Petrochemical's strategic investment clearly reflects its confidence in Sibr's quality assets and future growth. We are very happy to introduce Sinopec as our strategic investor. We believe that the participation of Sinopec will further enhance the business level of Sibr, maximize the efficiency of Sibr's new large-scale projects, and raise the company to a new height. "
Sibr is a vertically integrated natural gas processing and petrochemical company with unique positioning. Sibr owns and operates the largest natural gas processing business in Russia and is also a leading enterprise in Russian petrochemical industry.