Capex Data
China Petroleum Corporation plans to invest at least NT$16 billion (US$482.66 million) in overseas oil and gas exploration during the next five years.
Future Plans
The Chinese Petroleum Corp., encouraged by the success of its upstream operations in the Corocoro area in Venezuela, will continue to cooperate with large multinational oil companies in oil exploration abroad.
The CPC also plans to buy into natural gas fields, particularly those with petroleum reserves.
The company will focus on Brazil, Indonesia, Peru, the US, Canada, Australia, Malaysia, Venezuela, the Middle East and Africa for its future oil exploration projects.