Chinese Premier Welcomes Close Cooperation in Oil, Gas Development

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Last updated at: (Beijing Time) Tuesday, August 19, 2003

Chinese Premier Welcomes Close Cooperation in Oil, Gas Development

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Premier Wen Jiabao said Tuesday that he hopes close cooperation between Chinese and foreign companies would work in close cooperation to accelerate the development of oil and gas in the East China Sea.

During his meeting with senior executives of the China National Off-shore Oil Corp. (CNOOC), the China National Petrochemical Corp(SINOPEC), the Shell Group, and the Union Oil Co. of California (UNOCAL), Premier Wen said he hopes such a cooperation would help guarantee the energy supply for the booming Yangtze River Delta.

The four companies have, after negotiations, decided to work together on oil and gas development in the East China Sea.

After listening to briefings by the executives, Wen noted that the four partners are all big names, so their cooperation in the East China Sea, rich in oil and gas reserves, should have a bright future as energy is greatly needed in the Yangtze River Delta.

Ma Kai, minister in charge of the Chinese State Development and Reform Commission, and US Ambassador to China Clark Randt Jr. were among those present at the meeting.

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