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CNPC and Shell reach a strategic cooperation agreement
Datetime: 2011-7-3 11:38:04

On June 20, members of the Board of Directors and the Executive Committee of Royal Dutch Shell (Shell) paid a visit to the headquarters of CNPC. Holding an in-depth and amicable talk, the two sides signed the Global Strategic Cooperation Agreement between China National Petroleum Corporation and the Overseas Investment Company of Royal Dutch Shell. Agreements concerning Canadian oil sands, unconventional natural gas and oilfield engineering technology had also been reached.

Jiang Jiemin, CNPC President and chairman of PetroChina, said in his speech that CNPC focused on building an integrated energy company with international competiveness. Shell committed itself to constructing an energy enterprise with the strongest competiveness and innovativeness in the world. The two companies established an overall strategic partnership because both sides had possessed similar visions and headings. More importantly, we had found the strategic meeting pooints to support each other by using our advantages. With a view to the long-term, highly-efficient and extensive strategic partnership, the cooperation between the two sides was an overall cooperation which covered all the business at home and abroad as well as from the upstream to the downstream.

Jorma Ollila, chairman of the Board of Directors of Shell said that this visit made their China tour extremely significant. The signing of the global strategic cooperation agreement indicated that the worldwide cooperation between Shell and CNPC had made further progress. Other agreements signed also reflected the achievements jointly made by the two sides in various fields. Making full use of the advantages of both sides, we would actively implement cooperative projects so as to meet China‘s energy demand.

Before the signing ceremony, Jiang Jiemin and Peter Voser, CEO of Shell held an in-depth talk on further cooperation.

During their stay in China, members of the Board of Directors and the Executive Committee of Shell visited Daqing Oilfield and they learned technical services of major projects, Daqing Spirit and Iron man Spirit. Besides, they will visit Changbei Project which was jointly launched by the two sides in 1999.

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