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Vice President Han Visiting Sinochem's Counterpart

Date:2005-12-20 Source:Sinochem Group
On Nov.28th to Dec.4th, Han Gensheng, Sinochem's vice president, led a delegation to visit Repsol-YPF's headquarter in Madrid, Lundin's headquarter in Geneva and PetroFac's Woking Centre.

Repsol-YPF is the operator of Ecuador's Block 16, one of Sinochem's oversea oilfields and it ranks among the world's 10 largest oil-companies. It has the petroleum business in more than 30 countries. It has 9 refineries, 6,600 retail stations. It has the oil production capacity of 1.16 million barrels per day and owns 4.9 billion tons of proven oil reserve. In 2004, in terms of the crucial operational benchmark, Repsol-YPF's performance is the second best among all the oil companies listed in NYSE.

Lundin is the operator of Sinochem's offshore oilfield in Oudna, Tunisia.

PetroFac is a global Oil & Gas Engineering service Provider. Its service covers all the upstream, midstream and downstream and can provide its customers with solutions throughout the lifetime of the oilfield. The two companies' business is highly complementary.

Vice President Han exchanged views concerning with Sinochem's key E&P projects and their constructions in early 2006 with the counterparts to broaden the scope of cooperation in the field of upstream E&P technology and new project development.