China oil companies are located in Indonesia, Sudan, Ecuador, Russia, Algeria, Egypt, Uzbekistan, Mauritania, Mongolia, Oman, Libya, India, Peru, Canada, Thailand, Malaysia, South Korea, Venezuela, Kazakhstan, Australia, Syria, Qatar, Japan, Niger, Turkmenistan, Costa Rica, Iraq and the United Arab Emirates. Many countries, such as Cuba, have carried out exploration and development of oil and gas projects and construction of pipeline refineries. In the 26 years from 1992 (1992-218), * * * invested about 7 billion US dollars, and * * * obtained a share of oil of about 6,× 14t.
Middle East-North Africa, Central Asia-Russia and South America are three strategic regions of our country. North Africa takes Sudan as the center and Algeria and Nigeria as the radiation range countries; The Middle East is centered on Iran and Yemen and expanded to Qatar, Kuwait and Saudi Arabia. Central Asia is centered on Kazakhstan and Russia, and neighboring countries such as Uzbekistan, Kyrgyzstan and Azerbaijan are the radiation areas; South America started from Peru and Venezuela and radiated to Ecuador and Colombia, as shown in Table 3.1.
table 3.13 distribution of major oil companies abroad
source: information of CNPC, Sinopec and CNOOC group.
3.3.3.1 China's major oil and gas investments in North and South American countries
In p>1992, PetroChina acquired the oil reserves of a Canadian oil field, marking the beginning of China's oil and gas investments in North and South America. In July 1993, PetroChina acquired Beituanning Oilfield in Alberta, Canada, with a capital of 2.46 million Canadian dollars, 16% equity, recoverable reserves of 6×14 bbl, and produced the first barrel of foreign crude oil in China. In 1993, PetroChina successfully won the bid for the seventh block project in Tarara, Peru, and won the bid for the exploitation right of the sixth block in this oilfield two years later. The project has recovered all its investment in 1999, becoming the first foreign oil and gas project to recover its investment. Sinopec bought Canadian oil field shares for 15 million Canadian dollars, and China oil enterprises set foot in the oil development market of developed countries for the first time. In May 25, Sino-Canadian Oil Company, a wholly-owned subsidiary of Sinopec International Petroleum Exploration and Development Corporation (SIPC), reached an agreement with Canadian Sinenko Energy Company to jointly develop the Arctic Light Oil Sands project in the northeast of Alberta. China owns 4% of the shares and Canada owns 6%. The total investment of the Arctic Light Project is about 4.5 billion Canadian dollars, and finally the daily output reaches 1×14 bbl (the annual output is about 5×14 t).
In August p>26, PetroChina and Venezuela's Ministry of Energy and Minerals signed the Joint Venture Agreement between China Petroleum and Venezuela's National Petroleum Corporation and the Joint Venture Framework Agreement between China Petroleum and Venezuela's National Petroleum Corporation for the Joint Development of Hu Ning 4 Block in Orinoco Heavy Oil Belt, and at the fifth meeting of China-Venezuela High Commission, Six agreements involving oil engineering services and trade cooperation were signed with Venezuela's national oil company, namely, the Agreement on Transferring the Operation Contract of Intergambo and Caragoles Oilfield to Joint Venture Company, the Contract for Venezuela's National Oil Company to Buy the Drilling Rig of China Petroleum Technology Development Company, the Memorandum of Understanding on Establishing a Joint Venture for Oil Well Engineering Services between CNPC and Venezuela's National Oil Company, and the Memorandum of Understanding on Joint Production of Drilling Rigs between China Petroleum Technology Development Company and Venezuela's National Oil Company. In May 28, PetroChina and Venezuelan National Oil Company signed the Framework Agreement for the Development of Hu Ning Block 4 in Orinoco Heavy Oil Belt and the Framework Agreement for Joint Venture of China Refinery Project. In November, 28, PetroChina and Petronas Costa signed the Refinery Joint Venture Agreement between China Petroleum and Petronas Costa Rica (Table 3.2).
table 3.2 China's major oil and gas investment in North and South America
3.3.3.2 China's major oil and gas investment in Africa
China is Sudan's largest and earliest oil exploration partner. China has formed an oil industrial chain integrating production, refining, transportation and sales in Sudan. Sudan is very important to China's foreign oil development. In September 1995, PetroChina obtained the right to develop the oil field in Block 6 of Muglad Basin in Sudan, and two years later, it obtained the right to develop Block 1/2/4 of Muglad Basin, and then obtained part of the equity of the oil fields in Blocks 3 and 7. In July 1999, the new oil field in Sudan was officially put into production, which is the largest production base of PetroChina abroad. In November 22, the first wholly-owned oil field explored and developed by PetroChina in Sudan started. In August 23, PetroChina signed three oil cooperation agreements with Sudan's Ministry of Energy and Mines. By the end of 23, PetroChina had invested about US$ 2.7 billion, and in 21, it had recovered all its investments in Sudan. In March, 24, the 16 km pipeline directly connected to the Red Sea, which was jointly built by PetroChina and Sudan, was put into operation. In order to facilitate the transportation of large-scale equipment, PetroChina has built a large number of roads in Sudan.
in February, 23, as a technical support partner of a local company, Sinopec won the bid for a marginal oil field with recoverable reserves of 213×14 bbl in Nigeria, and owned 1% of the development rights of the oil field. It is estimated that the total development investment is 63.5 million US dollars, the operating expenses are 87.48 million US dollars, the total investment is about 15 million US dollars, and the total after-tax profit is 73.42 million US dollars.
on July 14th, 23, PetroChina signed a contract in Algiers, with a total investment of USD 35 million, of which 7% is invested by PetroChina, and the cooperation period is 23 years. The two sides built and operated an oil refinery in adrar province, southwest Algeria, with proven oil reserves of 6×18 bbl. The oil refinery will be completed within three years, with an annual refining capacity of 6×14 t.
On December 22nd, 23, China and Algeria signed an oil and gas contract for the first time. PetroChina will survey two blocks, the Algerian Sharif Basin and the Uzbek Eddm Basin, within three years. If it is proved that there are indeed oil resources, China will obtain a certain proportion of oil and gas.
on July 25th, 26, PetroChina's 1,× 14t/a production capacity construction project in the 3rd/7th district of Sudan was put into use. On June 2, 28, PetroChina and the Niger government signed a contract for exploration and development of Agard Block, including the construction and operation of long-distance pipelines, oil field exploration and development and refineries. On October 26th, 28, the N 'Djamena refinery jointly built by PetroChina and the Ministry of Petroleum of Chad started construction in the capital of Chad.
3.3.3.3 China's major oil and gas investment in Central Asia
In p>1997, a wholly-owned subsidiary of PetroChina purchased 6% of the shares of Aktobin Oil and Gas Company in Kazakhstan, and in August of the same year, it was granted the exploitation right of Wujin Oilfield. PetroChina's crude oil output in Kazakhstan is increasing by 1×14 t every year, and it has obtained an exploration license for the central part of the eastern edge of the Caspian Basin, and is ready to establish a crude oil processing plant. The 448.8 km-long oil pipeline jointly built by China and Kazakhstan was put into use in March 23. On September 28th, 24, the 97km oil pipeline from Atasu to Alashankou was officially started, with an annual oil transportation capacity of over 2,× 14t, which will promote China to further develop oil resources in Central Asia.
in August, 24, Sinopec successfully acquired the First International Oil Company of the United States, and obtained six wholly-owned and partial subsidiaries in Kazakhstan, an oil field with an annual output of over 2×14 t and five exploration blocks with an area of 2.6×14 km2.
3.3.3.4 China's major oil and gas investment in the Asia-Pacific region
On March 5, 1993, PetroChina signed a product sharing contract with Thailand, and obtained the oil development right of Bangya block in Thailand.
in January p>22, CNOOC acquired part of Repsol's rights and interests in five major oil fields in Indonesia, bringing about 3.6×18 bbl of recoverable reserves, about 1×18 bbl of additional reserves and 4×14 bbl of output that year.
On December 2th, 22, CNOOC acquired 12.5% equity of Indonesian Donggu LNG Project, and spent 275 million US dollars to sign a natural gas supply contract with Donggu LNG partners. Since 27, it has provided 26×14 t LNG to China Fujian lng terminal Project every year for 25 years.
on may 15th, 23, CNOOC acquired the upstream products and reserves of the natural gas project on the northwest continental shelf of Australia (NWS natural gas project, the largest natural gas resource project in Australia), which cost * * * US$ 348 million. At the same time, it acquired 1/4 equity of China LNG joint venture, which supplied LNG to Guangdong LNG receiving station in 26. CNOOC obtained 5.3% rights and interests in specific production license, lease ownership and exploration license of NWS project. At the same time, the company can also participate in exploration beyond proven reserves. If the LNG supply in Guangdong eventually increases, the company's rights and interests will increase. CNOOC's share participation is beneficial for China to obtain safe and stable natural gas.
in February, 24, CNOOC acquired 2.77% interest of British Gas Group in the Indonesian Moutouri production sharing contract, which cost 98.1 million US dollars. This makes CNOOC's rights and interests in the Moutouri production sharing contract increase to 64.77%, and its rights and interests in the whole Donggu LNG project correspondingly increase to 16.96%.
3.3.3.5 China's major oil and gas investment in the Middle East
On March 7, 24, Sinopec signed an agreement with Saudi Aramco and the Ministry of Oil of Saudi Arabia for the first time to develop oil fields in the northeast of Saudi Arabia. This is the first time that Saudi Arabia has opened its oil and gas fields to foreign investors in the past 25 years. In 25, Sinopec participated in the bidding of Iran's Adawalan oil field and successfully won 5% of the exploration and development rights of the oil field, which also marked that China's oil companies began to cooperate with Iran to develop large-scale oil fields.