PetroChina Signs Strategic Cooperation Agreement with Zhejiang Province

On December 26, the signing ceremony for the Strategic Cooperation Memorandum between the SASAC and Zhejiang Provincial People's Government and the Zhejiang-Central Enterprises Cooperation Conference were held in Hangzhou, Zhejiang. Wang Yong, director of the State-owned Assets Supervision and Administration Commission of the State Council, and Zhao Hongzhu, vice chairman of the Zhejiang Provincial Committee, attended the meeting and delivered speeches. CNPC Chairman and Party Chairman Jiang Jiemin was invited to attend and spoke as a representative of the Central Enterprise.

Jiang Jiemin expressed sincere gratitude to the leaders of the SASAC who have been paying great attention to and supporting the development of China’s petroleum, as well as the Zhejiang provincial government and the people of the province. He said that Zhejiang has obvious advantages in location and strong economic strength. Currently, it is fully implementing the strategy of “starting a business to enrich the people and innovating in a strong province”, focusing on adjusting and optimizing the structure, focusing on promoting reform and opening up, focusing on transforming development methods, and making every effort to ensure and improve people’s livelihood and enrich the people’s livelihood. And to build a well-off society in an all-round way has achieved new successes.

Jiang Jiemin pointed out that the sustained and rapid economic and social development in Zhejiang has placed higher demands on oil and gas supply security. During the “Twelfth Five-Year Plan” period and in the future, PetroChina will increase investment in four areas and actively participate. The first is to actively promote the construction of Taizhou Petrochemical and Chemical Integration Project and promote the development of Zhejiang Petrochemical's downstream industry. The second is to speed up the construction of the trunk line of the West-East Gas Pipeline System in Zhejiang Province, plan to build supporting facilities such as LNG receiving stations, and strive to meet Zhejiang's demand for natural gas. The third is to strengthen the construction of refined oil pipelines and terminal networks, increase the supply of refined oil, and strive to ensure a smooth supply of the market. The fourth is to deepen the joint venture and cooperation with key private enterprises in Zhejiang to achieve mutual benefit and common development.

At the meeting, Jiang Jiemin and Xia Baolong signed the agreement on the strategic cooperation between PetroChina and Zhejiang on behalf of the two parties respectively. During the talks, Jiang Jiemin also met with Zhao Hongzhu, Xia Baolong, and the responsible comrades of Zhejiang and Taizhou, and conducted friendly talks on the development of PetroChina in Zhejiang and the strengthening of cooperation between local enterprises.

During his stay in Zhejiang, Jiang Jiemin heard work reports from Zhejiang Sales Company and Zhejiang Oilfield Company. He pointed out that during the three years since Zhejiang's sales reorganization, it has focused on economies of scale, safety production, coordination with local relations, and team building. It has achieved rapid development, and sales of pure* sales have risen rapidly. The level of profit has increased substantially, and it has entered a healthy development track. After years of arduous efforts, Zhejiang Oilfield has significantly increased its crude oil reserves, production capacity, and single well production, and has made breakthroughs in the exploration and development of coalbed methane, natural gas, and shale gas. He emphasized that CNPC's business in Zhejiang needs to achieve scale development and healthy development, and help Zhejiang's economic and social development. In the process of development, we must concentrate our efforts on promoting the implementation of integrated refining and chemical projects, increasing oil and gas market supply, and strengthening the exploration and development of oil companies. We must innovate work ideas, adopt flexible and pragmatic strategies, and achieve development goals. Enterprises in Zhejiang should work closely together to form an overall joint effort to achieve real organic integration of the development of local enterprises. We must solidly carry out the activities of “promoting excellence for the people”, strengthen the work on the three bases, and resolutely hold onto the three red lines of “quality, measurement, and safety” to lay a solid foundation for the healthy development of the company. Efforts should be made to increase labor efficiency and economic efficiency, and continuously improve the quality of development.

Liu Hongbin, Huang Weihe, Xu Fugui, vice president of China National Petroleum Corporation, responsible comrades of the General Office of the company, the policy research office and the planning and planning department, as well as the principal comrades of Zhejiang Sales and Zhejiang Oilfield participated in related activities.