China National Petroleum Corporation (CNPC) is the largest integrated energy company in China. It recently signed an agreement with Jebel Ali Free Zone that will establish the CNPC’s regional headquarters in JAFZA that would allow it to serve its customers in the Middle East.
Source: The Maritime Standard
Chief Executive of JAFZA and Senior Vice President and Managing Director of DP World, UAE Region, Mohammed Al Muallem, and Chief Executive of CNPC Middle East, Zhu Junfeng signed the agreement. According to Mr. Junfeng, “This regional headquarters brings together all of our 16 listed companies in Jafza under one roof and will also support our expansion plans in the UAE and the Middle East, following our acquisition of an 8% stake in the Abu Dhabi Company for Onshore Oil Operations (ADCO) for $1.8 billion. We will now be able to provide operational support throughout the Middle East with room to grow our portfolio while increasing demand for our services.”
Source: LNG World News
There will be 10,000 square-metered multistory office and a warehouse facility for maintenance, storage and repair for oil and gas equipment in its new headquarters.
CNPC has also expressed its interest in oil production and other related services in Iran and Irag. It will be partnering with Total and Petronas to develop the Halfway oil field. It has also partnered with France’s Total to develop phase 11 of the South Pars gas field in Iran. It will be working with BP at the Rumaila oil field in Iraq as well.