Steel Flanges Trading, Exporting, pipe flange, forged flange, carbon steel flange, manufacturer, exporter, Jinan HyupShin Flanges Co., Ltd flange, pipe flange, forged flange, carbon steel flange, manufacturer, exporter, Jinan HyupShin Flanges Co., Ltd
  • Pipe flanges manufacturer
  • Forged Flanges Company
  • Carbon Steel flanges factory
  • Flanges DIN, ANSI, EN1092-1, JIS, BS4504
  • Steel Flanges Exporter, Supplier
  • 1
  • 2
  • 3
  • 4
  • 5
Home > Flange's News > Trade > View  
Trade

UAE, China firms seal onshore oil concession deal

Views:   Post Date: 2/20/2017 6:17:56 AM

ABU DHABI, Feb. 19 (Xinhua) -- Abu Dhabi National Oil Company of the United Arab Emirates signed an agreement Sunday with China National Petroleum Corporation, awarding it an eight percent interest in Abu Dhabi's onshore oil concession, both sides said in an e-mailed statement.

The agreement was signed by Sultan Ahmed Al-Jaber, Group Chief Executive Officer of the government-controlled ADNOC and member of the Supreme Petroleum Council of the Emirate of Abu Dhabi, and Wang Yilin, CNPC Chairman.

CNPC contributed a sign-up bonus of 6.5 billion dirham (1.77 billion U.S. dollars) to enter the concession. The onshore concession is operated by the Abu Dhabi Company for Onshore Petroleum Operations (ADCO).

Al-Jaber said "Our agreement with CNPC strengthens and deepens the strategic and economic relationship between the UAE and China."

Al-Jaber added "we see tremendous opportunity in working together to optimise our energy resources, by achieving maximum economic value, in support of ADNOC's long-term growth objectives."

Wang Yilin said the agreement "marks an important new phase in CNPC's strategic relationship with ADNOC and we hope it will lead to further opportunities to participate in the UAE's energy sector."

CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers.

back    top    next   
Online Service

Sales Manager

Chat Now on Skype!
Chat Now on QQ!
Chat Now on Trade Manager!


Email For Enquiry

Email For Enquiry, Jinan HyupShin Flanges Co., Ltd


Telephone
(86)531-83297728
Fax
(86)531-83291878

╱╲
TOP