China_National_Petroleum_Corporation In August 2005 it was announced that China National Petroleum Corporation (CNPC)agreed to buy the company for US$4. ...
CNPC spun off most of its domestic assets into a separate company, PetroChina, during a restructuring.
CNPC has 30 international exploration and production projects with operations in Azerbaijan, Canada, Indonesia, Myanmar, Oman, Peru, Sudan, Thailand, Turkmenistan, and Venezuela.
In October 2004, CNPC began construction of a pipeline from Middle East to Xinjiang.
If CNPC needs to retain the services of any of the Expatriate Employees employed by the Contractor or the Contractor still needs to keep some of CNPC personnel in its employment, an agreement shall be reached through consultation between the Parties prior to the transfer.
In the event that CNPC participates to an extent less than fifty-one percent (51%) in the development of an Oil Field within the Contract Area, the "allocable remainder oil" of such Oil Field in that Calendar Year shall be shared by the Parties in proportion to their actual respective participating interests in such Oil Field.
CNPC may put forward a list of candidates, in accordance with the plan, for such employment, providing suitable qualification and experience guidelines are met.
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