Sinochem Group has put great efforts into development of overseas oil and gas resources in active response to the “Go Global” energy development strategy. In 2002, Sinochem started to move upward the oil industrial chain. In the same year, Sinochem Petroleum Exploration & Production Co., Ltd. was incorporated.
With over a decade of development, Sinochem Group now has 36 contracted oil and gas blocks in 9 countries and regions, including Colombia, Brazil, the United States, and China, etc. The resources spread over various terrains like desert, hilly lands, rain forests and seas, covering light oil, heavy oil, natural gas, shale oil, etc. Sinochem operates along each link of the upstream value chain, including exploration, production and pipeline transportation. The business types has covered both operators and non-operators. Sinochem has established sound cooperation relationship with international oil companies, including Statoil, Total, and Pioneer Natural Resources. By the end of 2015, Sinochem had 800 million barrels of equity 2P (Proven and Probable) oil and gas reserves.
Sinochem experienced a rapid growth in oil and gas exploration and production business in recent years, which developed by leaps and bounds-- the company became an operator from a non-operator, from on-shore to off-shore; our business extended from production to production and exploration, from oil field to oil and gas field. With a wide range of oil reservoirs including sandstone, carbonatite, igneous rock, conventional oil and heavy oil. Sinochem Group enjoys a stable increase in oil and gas production and reserve, and continuous improvement in its assets quality and structure, which lays a solid foundation for further development.