Petrochina's overseas oil and gas production equivalent will exceed 100 million tons

Petrochina's 2019 international cooperation and foreign affairs conference was recently held in Beijing.Conference pointed out that the equivalent rights and interests of overseas oil and gas production in 2019 will exceed 100 million tons, and sums up the "since much starker choices-and graver consequences-in 'international operation, foreign affairs, and all the way' 'area construction achievements, in-depth analysis of the situation facing the task, arrange deployment' much starker choices-and graver consequences-in after two years' work, vigorously promote international operation and the level of foreign affairs work, promoting the construction of the integrated international energy company

In the first three years of the 13th five-year plan, the annual equivalent growth of overseas oil and gas production was 10 million tons

Since the beginning of the 13th five-year plan, in the context of national One Belt And One Road construction, CNPC has been vigorously implementing international strategy, giving full play to its comprehensive integration advantages, and promoting the high-quality and efficient development of overseas oil and gas business.

We continued to improve our overseas strategic layout, and operated and managed 92 oil and gas cooperation projects in 34 countries. The coordinated development of the upper, middle and downstream industrial chains has become more prominent.

Overseas oil and gas production equivalent is growing rapidly, and operating efficiency has reached new highs.The construction of the five major oil and gas cooperation zones has been continuously upgraded, with oil and gas reserves and production steadily increasing. In three years, an additional 230 million tons of equivalent oil and gas recoverable reserves have been added, and equivalent oil and gas equity production has increased by 10 million tons annually.

The scale of international trade has continued to expand and both quantity and efficiency have increased.We will make full use of both domestic and foreign resources and markets, actively serve the two oil and gas business chains, fully implement the four strategic channel resources, and accelerate the construction of three overseas oil and gas operation centers.In 2018, China's trade volume reached 480 million tons and sales revenue exceeded 1 trillion yuan.Up to now, the trade marketing network covers more than 80 countries and regions.

The business structure of overseas engineering services has been continuously optimized, and the guarantee capacity and profitability have been significantly improved.At present, the annual contract value of overseas engineering services is more than us $10 billion, with 1,356 service teams operating in 77 countries and regions.Engineering and technical services business overseas revenue and profit continued to grow.The export of equipment manufacturing has been enhanced by "manufacturing + service", and materials and equipment have been exported to more than 80 countries.The financial support business gives full play to the functions of the "four platforms", and provides a package of service guarantee for overseas businesses.

We deepened cooperation at home and abroad, and the quality and efficiency of our cooperation increased rapidly.In 2018, domestic and foreign oil and gas equivalent output exceeded 10 million tons.It plays an important role in promoting upstream and overseas business, demonstrating technological management innovation and opening up to the outside world.

Strengthen foreign affairs management, escort international business.We carried out in-depth international exchanges and cooperation, and successfully held the "One Belt And One Road" round table conference and china-russia energy business BBS.To enhance the brand value and influence of petrochina.

Implementation of the "One Belt And One Road" initiative, the development of the "five links" smooth progress.The central Asian natural gas pipeline, china-kazakhstan crude oil pipeline and other oil and gas pipelines play a role in connecting facilities, with an annual oil and gas transfer capacity of 63 million tons and 60.2 billion cubic meters.The Asian oil and gas operation center, the European oil and gas operation center and the central Asian and Russian resource market have been continuously improved. The oil and gas trade volume of the regions along the "One Belt And One Road" has been growing by more than 10% annually.It has provided investment and financing support for 29 production capacity cooperation projects in 17 overseas countries, amounting to more than 40 billion us dollars.Chinese oil companies have benefited more than 3 million people in the countries along the belt and road.

Two years after the 13th five-year plan: building a community of Shared interests in oil and gas cooperation

At present, the global energy industry has entered a period of great changes and adjustments.On the one hand, the company is still in an important period of strategic opportunities, and there are many favorable factors and conditions for overseas business development.On the other hand, global oil and gas geopolitics are complex and changeable, global crude oil demand growth is slowing and other challenges are severe, and the digital transformation and transformation of the oil and gas industry is more urgent, which puts forward higher requirements for the high-quality and efficient development of international business.

Faced with new challenges, in the second two years after the 13th five-year plan, petrochina will give full play to the group's overall advantages, optimize the asset structure and layout, and deepen high-end cooperation.Earnestly shoulder the responsibility and mission of "One Belt And One Road" construction as the main force, and realize the high-quality and efficient development of overseas business.

We will focus on overseas exploration and development and production operations to ensure double growth in production efficiency.According to "do the best it big in Russia, the Middle East, Africa, central Asia, the americas, do real asia-pacific" thinking, in economic benefits as the center, efforts to promote from the traditional production and management to the lean production and management, the shift from rely on investment to rely on innovation, the production management to the production and business operation and assets management.Strengthen the resource base by increasing exploration efforts;Deepen fine development to ensure steady increase of output;Focus on the construction of major projects, increase output contribution;Strengthen the development of new projects to enhance the sustainability of development;Carry out asset optimization to continuously improve efficiency.Production of overseas oil and gas rights and interests should reach more than 100 million tons of equivalent by 2020.

We will work hard to improve the operation of international trade and enhance the global allocations of oil and gas resources.We will give full play to its synergy with oil and gas production, refining, and sales, actively explore new ways and models for the deep integration of overseas upstream business and oil and gas trade business, and accelerate the construction of a global oil and gas trade system, with the international trade volume reaching 550 million tons by 2020.Service domestic refining and chemical processing needs, reduce the cost of crude oil procurement.We will increase the export of refined oil products, optimize the import of natural gas, organize the purchase of LNG resources, and ensure stable supply in the domestic market.We will continue to improve the construction of oil and gas operation centers in Europe, Asia and the americas, and expand new development space in the Middle East and central Asia.

We will strive to improve our ability to provide overseas engineering services, and continue to expand our market share and profit margins.In 2020, the amount of newly signed contracts and operating revenue will reach $15 billion and $12 billion respectively.

Engineering technology service business should accelerate management and technological innovation, build comprehensive service providers, and continuously improve market competitiveness, brand influence and international operation ability.The engineering construction business shall focus on the three core businesses of oil and gas field surface, oil and gas storage and transportation, and refining and chemical engineering, pay close attention to new energy and offshore and other emerging businesses, cultivate distinctive advantages, optimize the business structure, and strive to achieve the international advanced level of design, manufacturing, construction and EPC capacity at the end of the 13th five-year plan.Equipment manufacturing enterprises should speed up transformation and upgrading, adjust their product mix, vigorously promote production capacity cooperation in central Asia, the Middle East, southeast Asia and other regions, and constantly expand the export scale of equipment products.Financial support should comprehensively strengthen the function construction of the platform, give full play to the functions of overseas capital centralized management center, overseas credit center and overseas financing center, and reduce the financing cost of overseas business.Domestic and foreign cooperation should focus on the implementation of existing projects, strive to develop a number of new projects in the fields of risk exploration, unconventional oil and gas, untapped reserves and enhanced oil recovery in old oil fields, and strengthen the introduction and promotion of new technologies and advanced management experience, so as to complete 12 million tons of oil and gas equivalent by 2020.

We will work hard to promote One Belt And One Road oil and gas connectivity and build a closer community of Shared interests.With large-scale oil and gas cooperation projects as the starting point, the One Belt And One Road region will be built into a major benefit contribution area for overseas oil and gas business, a resource guarantee area for cross-border channels, a linkage adjustment area for domestic and foreign markets, and an important cooperation area for advantageous service and production capacity.We will actively establish regular exchange mechanisms with governments and partners of resource countries along the "One Belt And One Road" route.Oil and gas cooperation should be expanded, deepened and brought to a higher level.

We will focus on scientific and technological innovation, lean management and risk prevention and control, and play a leading and supporting role.We will take scientific and technological innovation as the leading force to drive management upgrading, prevent and defuse major risks, and transform factor-driven to innovation-driven development.We will intensify efforts to break through bottlenecks.Relying on the major national and national petroleum projects, we will determine the main direction of scientific and technological innovation, focus on solving overseas complex oil and gas exploration and other technical problems, and develop innovative methods for evalsuating global oil and gas resources.