Gazprom and CNOOC address priority areas of cooperation
The first meeting of the Joint Coordinating Committee (JCC) between Gazprom and CNOOC took place in Beijing today.
The meeting was co-hosted by the JCC Co-Chairmen Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Chen Bi, Executive Vice President of CNOOC.
The parties discussed the prospects for cooperation within the framework of the Memorandum of Understanding signed between the companies. A focus was placed on the priority areas of collaboration, namely hydrocarbon exploration and production, equipment and technology development, and the use of gas as a vehicle fuel.
At the end of the meeting the parties approved the action plans for the JCC working groups focused on a number of cooperation areas.
CNOOC is among the top three Chinese petroleum companies focused on hydrocarbon field exploration and development as well as oil and gas production and sales in China. CNOOC has an exclusive right for prospecting, exploration and production of oil and gas offshore China. The company is also China's largest LNG importer.
On November 9, 2014, Gazprom and CNOOC signed a Memorandum of Understanding.