OREANDA-NEWS.  July 16, 2012. Mr. Han Gensheng and Mr. Zhang Wei, Vice Presidents of Sinochem Group led the team to our oilfields in South America for project inspection. They visited and saluted the front-line overseas staff and held talks with local government authorities and partners. This was also an important step for us to further promote business in Colombia and other parts of South America after the Colombian President Santos visited China and held talks with the Group President Liu Deshu in May this year, reported the press-centre of Sinochem Group.

At Emerald project in Colombia, Mr. Han put forward requirements by focusing on the direction of assets exploration, the assets development in existing blocks, and the stabilization and increase of the output and the production capacity. Mr. Zhang said that Sinochem Petroleum Exploration & Production Co., Ltd. would provide greater support for the Emerald project and hoped that the project company would further improve its project management capability and personnel training. During this period, they also went to Ecopetrol, Colombian Energy Board, as well as Chinese Embassy in Colombia and other enterprises and institutions and held talks with relevant persons in charge.

At the Peregrino offshore oilfield in Brazil, the two vice presidents praised the efforts made by the project company in terms of project management, business development, team building and cultural integration. Mr. Han stressed that the project company, on the one hand, should well manage the Peregrino project, and on the other hand, should actively develop the Brazilian market and make efforts to expand the Company's business in Brazil. Mr. Zhang pointed out that the project company should take root there and build a both international and localized oil company.

They attended the signing ceremony of the technical cooperation agreement among Sinochem Petroleum Brazil Co., Ltd., SINTEF Brazil and the COPPE College of Federal University of Rio de Janeiro, which will make extensive and in-depth cooperation in technological innovation and research and development.

During their stay in Brazil, they also held talks with relevant persons in charge of ANP and Sinochem’s partners such as Norsk Statoil and French Perenco, and exchanged views on the issues of common concerns and the cooperation progress of projects.

This visit to South America further promoted our relationship with local parties, and was conductive to promoting the project company to develop better and faster in the future.