OREANDA-NEWS. May 31, 2012. Sinochem Group inked a cooperation agreement with Empresa Colombiana de Petroleos (“Ecopetrol” for short) in the Great Hall of the People in Beijing, and the Cooperation Agreement on Crude Oil Transport Pipeline Project in Central Colombia between Sinochem Group, China Development Bank and Ecopetrol with China Development Bank and Ecopetrol. Chinese President Hu Jintao and Colombian President Santos attended and witnessed the signing ceremony.

Sinochem Group President Liu Deshu, Ecopetrol Vice President ALVARO CASTA EDA CARO and China Development Bank Deputy President Wang Yongsheng affixed their signatures on the agreement on behalf of their respective enterprises. Sinochem Group Vice President Zhang Wei was also present at the signing ceremony.

Before the ceremony, President Santos met with Sinochem Group President Liu Deshu at the Diaoyutai State Guesthouse. Both parties looked back at their cooperation in oil-gas exploration and development and reached a consensus on further strengthening communication and cooperation in the future. President Santos said that as Colombia had been dedicated to cementing friendly cooperative relationships with China, it needed such cooperative partners as Sinochem Group, and that he hoped that his visit this time would expand cooperation on economic and trade investment between China and Colombia. President Liu expressed his appreciation for the meeting with President Santos. He also added that Sinochem Group would continue to reinforce its communication with all sectors in the local region to actively seek development opportunities and realize cooperation and mutual benefits.

Sinochem Group Vice President Han Gensheng and Zhang Wei, and Li Pilong, Assistant President of Sinochem Group and Chief Geologist concurrently, also attended the said meeting.