On May 26, Sinochem and the Croatian company INA signed the letter of intent on cooperation in the Great Hall of the People. Vice President Han Gensheng of Sinochem and Executive Director Josip Petrovic of INA signed the agreement.
Premier Wen Jiabao of the State Council and the visiting Croatian Prime Minister Sanader attended the ceremony.
According to the letter of intent, Sinochem and INA will conduct cooperation in such fields as oil and natural gas services, obtaining oil and natural gas block equity and oil and gas trade. The cooperation will mainly take the form of specific projects through the establishment of a joint venture.
INA is the only oil company of Croatia and once had sound cooperation with Sinochem in crude oil trade. Currently the company has exploration and development blocks in North Africa and the Middle East.