Sinochem Petroleum Exploration and Production Co., Ltd. (“Sinochem E&P”), as a wholly-owned subsidiary of Sinochem Group, undertakes the group’s strategy to expand its oil business to the upstream sector and engages in oil exploration and production globally.
In 2002,Sinochem Group established its wholly-owned subsidiary - Sinochem Petroleum Exploration and Production Co., Ltd. Since its establishment, Sinochem E&P has been carrying out its mission of "go upstream" set by Sinochem Group to develop new projects. As a result, Sinochem E&P has increased its oil and gas reserve and production substantially, with its profitability enhanced and its asset quality and structure greatly improved. From 2003 through 2012, Sinochem E&P produced accumulatively more than 100 million barrels of oil and gas. During this period, the company have evolved ourselves from a non-operator to operator, with the capacity of both exploration and production and making expansion from onshore to offshore. The reservoir types the company developed included clastic, carbonate and metamorphic rocks. Our production included light oil, heavy oil and natural gas. With growing business strength and sustainable development trajectory, Sinochem E&P have paved a solid ground for future rapid growth.
In recent years, Sinochem E&P have taken existing assets' management reinforcement and assets-base expansion as the priority. By venturing into new projects, streamlining project management, conducting in-depth technological research and building strong workforce with rightful corporate culture, the company have enhanced our capability and realized our growth in asset size in tandem with the growth of profitability. In the future, Sinochem will continue the great undertaking to grow E&P business in a sustainable way by focusing on existing projects, strengthening asset base and enhancing organic capability. Our vision is to become a world-famous Independent oil company with a group of quality oil assets, distinctive business approach and sustainable development momentum.