Two Giants to Join Hands in Exploitation

Exploitation by SINOPEC Fruitfull

SINOPEC and CNOOC

About SINOPEC Focusing on its core business of petroleum and petrochemicals, China Petroleum and Chemical Corporation (Sinopec Corp.) is a joint-stock company with integrated upstream and downstream operations and a complete marketing network. The company was set up on February 28, 2000 by China Petrochemical Corporation (Sinopec Group) as the sole sponsor, after a restructuring of its businesses, assets, debts and creditor's rights, organization and personnel. The company has a registered capital of RMB 83.9 billion. About CNOOC China National Offshore Oil Corp. (CNOOC) is a State oil company incorporated on February 15,1982��with approval from State Council. CNOOC is assumed with the overall responsibilities for the exploitation of offshore petroleum and natural gas resources in the People's Republic of China in cooperation with foreign enterprises. Headquartered in Beijing, CNOOC registered with a capital of 50 billion RMB and at present employs 21 thousand personnel in active service. It has majority stake in CNOOC Ltd., a listing independent oil/gas company primarily engaged in E&P sector, owns China Offshore Oil Research Center, one chemicals company, three specialized services companies and five logistic companies and, runs a joint venture petrochemicals company with Shell. In addition, it operates three overseas representative offices in Houston, Jakarta and Singapore.