CNPC signs coops deal in Cuba
- Business & Finance
On July 22 in Havana, Capital of Cuba, CNPC and CUPET, cuban state oil company, signed a framework agreement on increasing crude output and production sharing, and a cooperation agreement on drilling services.
The contract was signed in the presence of Chinese President Xi Jinping and Cuban President Raul Castro, CNPC Vice President Wang Dongjin and General Director of CUPET Juan Torres Naranjo.
Under the agreements, CNPC will help CUPET to lower operation cost of some existing oilfields and enhance the crude production and recovery, and meanwhile provide 9,000m drilling rigs and supporting services to facilitate the exploration and development of Cuba’s offshore oilfields.