On June 18, 2024, ZPEC Group and Trafigura Group signed a strategic cooperation framework agreement in Shanghai. The two parties will give full play to their respective advantages, realize resource sharing, complement each other's advantages, and jointly promote the development and growth of the oil and gas business. This strong alliance will bring new strong support to ZPEC's international business expansion.

Trafigura Global Oil Business President Mr. Ben Luckock, Asia Energy President Mr. Dmitri Croitor, ZPEC Group Senior Vice President and CFO Ye Jifeng, ZPEC Group Senior Vice President Yao Guicheng and other leaders of both parties attended the signing ceremony and discussed and exchanged in-depth views.

Ye Jifeng first introduced the development history, industrial layout and production and operation of ZPEC, and made an in-depth introduction to the company's advantages in oil and gas drilling engineering, equipment manufacturing and exploration and production. At the same time, he introduced the company's development plan, technical support capabilities, and international oil and gas project operation capabilities, including the basic situation of the two oil field blocks recently won in Iraq.

Mr. Ben Luckock introduced the Trafigura Group, congratulated ZPEC on winning the bid for the two oilfields in Iraq, and expressed great interest in ZPEC’s development model and comprehensive capabilities. He hoped to carry out long-term and comprehensive cooperation with ZPEC in crude oil trade, trade financing, and financing support for project acquisitions, while developing together in a win-win manner.

In the next step, the two parties will carry out comprehensive cooperation in multiple fields such as oil and gas exploration, development and production, trade, and logistics. They will jointly promote the development and the growth of their respective businesses. ZPEC will continue to give full play to its unique advantages in oil and gas exploration and production, project investment, mergers and acquisitions, industrial chain operation management, and technological innovation. They will combine the resources and strengths of Trafigura Group in the field of global commodity trade to share exploration results and risks, jointly expand the global oil and gas market, jointly build and optimize the oil and gas logistics network, improve the efficiency of oil and gas transportation, and achieve high-quality development of global business.

At the signing ceremony, the leaders of both parties unanimously agreed to set up a docking team to start work as soon as possible. After the meeting, the two sides exchanged views on the details of future cooperation.

ZPEC is one of China's leading listed oil and gas companies (stock code: 603619), with business covering the entire industry chain including oil and gas exploration, development, production, sales, pipeline transportation, etc. Its main markets are in the Middle East, Central Asia, North Africa, South Asia and other places. Its cooperative customers are international first-class oil companies and oil service companies such as Saudi Aramco, Shell, BP, Petronas, PetroChina, Sinopec, etc. By exporting ZPEC's advanced large-scale oil equipment, engineering and technical services, and project management experience to relevant countries along the "Belt and Road", it helps the energy supply of the project countries and promotes the local oil and gas industry, economy, and social development.

Trafigura Group, headquartered in Singapore, is a world-renowned oil and gas trader with a wide market network and rich industry experience. As a core enterprise in the supply chain and one of the top 500 companies in the world, its business covers the trade, transportation, warehousing, and financing of bulk commodities such as crude oil, refined oil, liquefied natural gas, coal, metals, and minerals. Relying on its innovative advantages, logistics network advantages, risk management advantages, and strong trading capabilities, its business covers more than 120 countries and regions around the world and enjoys a high reputation in the global energy market.