PetroChina's successful acquisition of PK

China oil the successful acquisition of PK company on 27 October, Xinhua news agency, Beijing (reporter Chang Zhipeng) 27 reporters from Chinese Petroleum Corporation was informed that Beijing time on the evening of 26, Chinese Petroleum Corporation, through its wholly-owned subsidiary of CNPC International (CNPCI) acquisition of Kazakhstan PK oil company, won the final award of Calgary court of Alberta province Canada, approved by Chinese Petroleum Group 100% acquisition of PK company. So far, China National Petroleum Corporation completed the acquisition of PK company's legal procedures.

PK company is registered in Canada international oil companies, oil and gas, refinery etc. all the assets in the territory of Kazakhstan, annual production capacity of more than 7 million tons of crude oil. China Petroleum Corporation as a producer and supplier of the largest domestic oil gas China, 1997 entered Kazakhstan to carry out oil and gas cooperation, strictly operate in accordance with international practice, to comply with local laws and fulfill the duty of investment, the use of advanced technology and mature, the crude oil production increased 2 CNPC Aktobe project times. At the same time, with the local government and Kazakhstan national oil and gas company has established good relations of cooperation. Chinese Petroleum Corporation, the successful acquisition of PK company, the choice of cooperation, with Kazakhstan's national oil company operation and management of PK project, the cooperation program has been agreed, the two sides signed a memorandum of cooperation.

Chinese Petroleum Corporation, the successful acquisition of PK company, accumulated large multinational merger and acquisition success experience.