China National Petroleum Corporation (CNPC) and Italy’s Eni yesterday signed a cooperation agreement that encompasses oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals.
CNPC, an integrated energy company, is China’s largest oil and gas producer and supplier, as well as one of the world’s major oilfield service providers and a globally reputed contractor in engineering construction. Eni, a multinational oil & gas company and considered one of the global supermajors, has operations in 73 countries.
The scope of the partnership covers not only China but overseas activities as well. Eni’s activities in China include participation in five producing blocks in the South China Sea and the marketing of lubricants.
The signing took place in Rome at Eni’s headquarters during a meeting between the Chairman of CNPC, Wang Yilin, and Eni CEO, Claudio Descalzi.
“The meeting was a chance to further strengthen the relationship between the two companies and was an opportunity to discuss ongoing joint projects as well as future opportunities between CNPC and Eni across the energy value chain,” Eni said in a statement.