McDermott: Trends in Offshore Oil & Gas - GineersNow GineersNow Engineering Magazine Issue No. 021, McD | Page 13

Dubai Will Have Regional HQ of China’s
Largest Integrated Energy Company
China National Petroleum Corporation recently signed an agreement with Jebel
Ali Free Zone that will establish the CNPC’s regional headquarters in JAFZA.
China National Petroleum Corporation (CNPC) is
the largest integrated energy company in China.
It recently signed an agreement with Jebel
Ali Free Zone that will establish the CNPC’s
regional headquarters in JAFZA that would allow
it to serve its customers in the Middle East.
Chief Executive of JAFZA and Senior Vice
President and Managing Director of DP World,
UAE Region, Mohammed Al Muallem, and
Chief Executive of CNPC Middle East, Zhu
Junfeng signed the agreement. According
to Mr. Junfeng, “This regional headquarters
brings together all of our 16 listed companies
in Jafza under one roof and will also support
our expansion plans in the UAE and the Middle
East, following our acquisition of an 8% stake
in the Abu Dhabi Company for Onshore Oil
Operations (ADCO) for $1.8 billion. We will
now be able to provide operational support
throughout the Middle East with room to grow
our portfolio while increasing demand for our
services.”
There will be 10,000 square-metered multistory
office and a warehouse facility for maintenance,
storage and repair for oil and gas equipment in
its new headquarters.
CNPC has also expressed its interest in oil
production and other related services in Iran
and Irag. It will be partnering with Total and
Petronas to develop the Halfway oil field. It has
also partnered with France’s Total to develop
phase 11 of the South Pars gas field in Iran. It
will be working with BP at the Rumaila oil field in
Iraq as well.
Oil Gas Leaders • May 2017 11