China National Petroleum Corporation is the world’s third largest oil company based in China and plays a leading role in petroleum industry of China. The company combines the business portfolios of both the oil company and the oilfield service provider with operations covering the entire oil and gas value chain. The company plays a big role in the global oil circle. Currently, CNPC is present in 31 countries, including Uzbekistan.
On June 8, 2006, China National Petroleum Corporation for Exploration and Development (CNODC), a subsidiary of CNPC, entered into an agreement with Uzbekneftegaz National Holding Company for exploration in the oil and gas regions of Uzbekistan.
On the basis of this Agreement, CNODC established a foreign enterprise CNPC Silk Road Group LLC (CNPC SRG), as a management company for implementation of CNODC’s investment commitments in Uzbekistan.
Since then, CNPC SRG has been actively working on investment units Karajid – Gumkhana, Romitan, Karakul, Aralomorsk and Sams-Kosbulak, applying advanced technologies at every stage of work.
In particular, it conducts seismic exploration with subsequent processing and interpretation of drilling data, well testing, etc. In addition to CNPC SRG, CNODC invested in a project of the Aral Sea, which is being implemented under the Production Sharing Agreement (PSA), and in the project of exploration and development of oil fields in Mingbulak.
The main priority of CNODC is given to issues of safe operation, environmental protection, consideration of corporate and public interests.