On January 18, Zhang Wei, Vice President of Sinochem Group and General Manager of Sinochem Corporation met Mr. Reidar Gjaerum, Senior Vice President of Statoil ASA and his companions in Beijing Chemsunny World Trade Center. Both sides communicated concerning the international oil and gas market and reform situations of Chinese oil and gas industry.
General Manager Zhang warmly welcomed Mr. Reidar Gjaerum and his companions; he also introduced the current development situation of the company and showed his firm confidence on the future oil price tendency and the business development of the company. Mr. Reidar Gjaerum showed that Statoil ASA made preparations to cope with the low oil price and had enough confidence for the future oil price to return to the reasonable price. Meanwhile, Statoil ASA held that Chinese economy would have huge influence on the international oil and gas market and have huge interests of the Chinese oil and gas market. Both sides made in-depth communications concerning the unconventional oil and gas business in North America.