On February 21, 2024, ZPEC and Sinopec Zhongyuan Petroleum Engineering Design Co., Ltd. signed a Strategic Cooperation Agreement at ZPEC Shanghai Lingang Base. The two parties agreed to conduct strategic cooperation in the fields of oil field CPF stations, ground engineering, natural gas pipeline construction, and other aspects to achieve win-win results.

ZPEC Chairman Li Chundi, Senior Vice President Yao Guicheng, Sinopec Zhongyuan Petroleum Engineering Design Co., Ltd. Chief Expert Yin Yongming, and other leaders attended the signing ceremony.

Chairman Li welcomed the arrival of the leaders of Sinopec Zhongyuan Petroleum Engineering Design Co., Ltd. He said ZPEC’s oil field exploration and production was the focus of the company’s future development. Currently, the Tenge and Wensu Projects, invested by the company, have made good oil and gas discoveries, and the construction of oil field production capacity was improving rapidly. Recently, the CPF station of the Wensu Project was put into operation and the CPF station of the Tenge Oilfield was being upgraded. It was expected that the processing capacity would soon reach full capacity and a new round of production capacity construction would soon be launched. He went on to say that ZPEC would work closely with Sinopec Petroleum Engineering Design Co., Ltd. to conduct feasibility studies and optimize designs in a timely manner. Strategic cooperation in projects such as the ground engineering construction of the Tenge Project, the Wensu Natural Gas Pipeline, and the expansion of oil and gas processing in the Wensu Block, so as to build storage and transportation pipelines and oil and gas comprehensive processing stations, would return the best economic benefits as soon as possible.

At the same time, the two parties are actively seeking more cooperation points in the long-term strategic planning and layout of the logistics base, Wensu living base, international new oil field blocks and other projects, and hope to carry out closer cooperation around the two blocks and three projects, to achieve a win-win situation for both parties.

The signing of the strategic cooperation agreement has opened a new journey for the strategic partnership between the two parties. It was agreed and so stated that they would use this as a starting point to jointly promote the high-quality development of oilfield construction.

(ZPEC Headquarters Text/Xie Yin Picture/Qu Qilei)