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CNPC, Chevron Sign Agreement to Develop Luojiazhai

Source: www.gulfoilandgas.com 11/5/2009, Location: Asia

On October 29, the Luojiazhai gas field in the northeast part of Sichuan Basin was formally put into development, which is the largest upstream cooperation project in china covering an area of 1,969 square kilometers.

On the same day, during the 20th China-US Joint Commission on Commerce and Trade, Petrochina Foreign Cooperation Administration Department President Yan Cunzhang and Chevron China Energy Company President Keli Taureka signed an agreement to commence the development of Luojiazhai gas field on behalves of CNPC and Unocal East China Sea Company Ltd (Chevron's subsidiary). The agreement includes terms on speeding up the development of the field, operation requirements and corporate social responsibilities.

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