PetroChina

Latest PetroChina News

• The Board is pleased to announce that the North Klalin-1 well has been put on production on 26 March 2012 with an initial production rate of approx. 1.56 MMSCFD of gas and 107 BCPD on a gross basis.

• The intended joint venture will be named Guangdong CNPC Kunlun Changfeng Investment Co., Ltd. and will be based in Guangzhou city, the capital city of Guangdong province.

• 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Limited for cash consideration of $680 million (Cdn.).
• As a result of the sale of its MacKay River interest, Athabasca has retired all outstanding debt.

• Ivanhoe Energy Inc. apologized publicly Wednesday for inadvertently upsetting PetroChina by announcing last week that it has agreed to sell its interest in a gas discovery in China to Royal Dutch Shell for US$160 million.

• Athabasca announces that it has exercised its option to divest its 40% interest in the MacKay River oil sands project to a wholly owned subsidiary of PetroChina International Investment Limited

• PetroChina is looking to tap into the shale deposits in southwest China's Sichuan basin and is anticipating production of 1 billion cubic metres of shale gas in 2015
• Changning, Weiyuan and Fushun-Yongchuan blocks in Sichuan together comprise the acreage which the company is eyeing as potential shale gas plays
• China's natural gas consumption last year was 100 billion cubic meters, which is expected to triple in the next ten years

• Arrow Energy, a joint venture of PetroChina and Royal Dutch Shell Awards FEED contract to a consortium comprising of Chiyoda Corporation, CB&I (Chicago Bridge and Iron) and Saipem
• The Arrow LNG plant will be designed with two trains each producing four million tonnes of LNG per annum for export, with potential to expand the facility at a later stage

• PetroChina and Ineos form a European trading and refining joint venture.
• The joint venture marks the entry of a Chinese corporation in the European market
• The $1.015 billion worth deal entails a 50% stake for PetroChina in the trading and refining activities of Ineos' Scotland and Southern France refineries

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