What influence has been produced upon Sinopec Corp. as a result of its collaboration with CNOOC and foreign partners in the East Sea area?
To bring into full play the strengths of all the parties: As a matter of fact, this cooperative development project regarding natural gas resources in East Sea participated by the four parties, Chinese and foreign, has brought into full play the strengths of each of the four parties, and allowed their resources, funds, and professional advantages to make a fusion in an effective manner. This is conducive to acceleration of the development of the East Sea Natural Gas Project, which is to the good of the State and the Chinese people holistically, and also endues these four cooperative parties to embrace certain benefits. Sinopec Corp. plays a leading role in terms of sale of natural gas. Foreign parties render compensation: considering the oil and gas reserves provided by Sinopec Corp., foreign parties will render compensation in a rational and equitable manner according to globally accepted practices.
