Gulf Oil and Gas accountACCOUNT

CNPC & Mubadala Petroleum Sign Strategic Cooperation Agreement

Source: www.gulfoilandgas.com 12/14/2015, Location: Asia

On December 13 in Beijing, in the presence of His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, CNPC Chairman Wang Yilin and Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Chief Executive Officer of Energy at Mubadala Development Company, signed a strategic cooperation agreement between CNPC and Mubadala Petroleum. Under the agreement, the two companies will join hands in upstream oil and gas investment and relevant project services outside the UAE, specifically in conventional onshore projects, offshore projects, and LNG projects, etc.

Mubadala Development Company is owned by the Government of Abu Dhabi, with investment businesses covering aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and service ventures. Mubadala Petroleum is a wholly owned subsidiary of Mubadala Development Company. Focusing on upstream and downstream investment in the oil and gas business around the globe, the company has established cooperation partnership with world-leading energy companies, and has participated in many major projects.

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