Shell, CNPC in shale co-op deal

Shell 309 April 2014, News Wires – Shell and state giant China National Petroleum Corporation (CNPC) have signed a long-term deal to collaborate on projects in the unconventional sphere.

The Anglo-Dutch supermajor and its Chinese partner will also work together in the deep-water and liquefied natural gas spheres, as well as co-operate on other upstream and downstream projects, CNPC said on Wednesday.

Co-operation documents were signed by Shell chief executive Ben van Beurden and CNPC chairman Zhou Jiping in Beijing on Tuesday.

“The two companies will strengthen long-term worldwide co-operation in unconventional resources, deep water, LNG, and upstream and downstream businesses,” CNPC said.

“Both agree to take soft power as an integral part in various fields of cooperation, and to promote the strategic partnership between the two sides to a higher level.”

A Shell spokesperson confirmed the deal, saying“In line with Shell’s strategic priorities in China, we have signed with CNPC a global alliance agreement that reconfirms both parties’ commitment to our existing strategic partnership in China and around the world.

“Under the agreement, the companies also commit to expanding bilateral project cooperation into softer areas of the business including HSE management, corporate social responsibility, human resources, corporate culture, technology innovation as well as international management.”


– Upstream

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