China National Offshore Oil and Shell Group to Explore Cooperation

The eighth cooperation seminar between CNOOC and Shell was held in Beijing. The two sides exchanged views on exploration and development. At the seminar, the two sides reviewed the new achievements of cooperation in the past year, and hoped that through joint efforts, they could further promote deeper mutually beneficial cooperation in the oil and gas industry, contribute new value to strategic partnership and promote the company's high-quality development. At the same time, in view of the future direction of cooperation between the two sides, the meeting pointed out that the first is to further deepen bilateral oil and gas business cooperation in China and expand pragmatic cooperation in oil and gas exploration and development, professional technical services, LNG, crude oil trade and other business areas; the second is to deepen bilateral cooperation in overseas business areas, explore opportunities for upstream cooperation overseas, and enhance overseas asset earnings. Third, we hope to deepen bilateral cooperation in new areas, strengthen exchanges and follow-up studies on quality, health, safety, environmental protection and new energy, and explore new opportunities for cooperation in offshore wind power. During the meeting, the two sides also held group discussions on seven topics, including acquisition, exploration and development, international cooperation, natural gas, crude oil trade, quality, health, safety, environmental protection and new energy, and formulated suggestions for the next step of work, which will form a list of tasks after approval by the management of both sides.