Free Demo Request

China secures $330 million UAE oil field deal: Report

Date 18-May-2015
Subject China secures $330 million UAE oil field deal: Report

SHANGHAI : A subsidiary of China's largest energy company China National Petroleum Corporation signed a $330 million deal on Sunday to build infrastructure for an onshore petroleum company in the United Arab Emirates, according to state news agency Xinhua.

The project between China Petroleum Engineering and Construction Corporation (CPECC) and Abu Dhabi Company for Onshore Oil Operations (ADCO) will lift ADCO's daily crude production from 1.4 million to 1.8 million barrels by 2017, Xinhua reported.

CPECC will build oil gathering stations, pipelines, power transmission lines and sewage systems in the country's Mender oilfield, said Xinhua.

China National Petroleum Corporation secured rights in 2014 to produce and export oil from Abu Dhabi, helping the world's second-largest economy to secure more fuel for its rapid economic growth.

Source : economictimes.indiatimes.com

High-volume of Loyal
and Trusted Customers!

We feel pride in offering our customers the wide range of products of the top leading brands of the world.

BCG Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard