Chinese state-owned China National Petroleum Corporation (CNPC) and Italian oil giant Eni signed a cooperation agreement on Wednesday, September 13.
According to a statement by the Italian oil company, the agreement covers cooperation in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining, and petrochemicals.
Eni further explained that the partnership will regard both China and overseas activities.
The signing of the deal took place at Eni’s headquarters in Rome during a meeting between the chairman of CNPC, Wang Yilin, and Eni’s CEO, Claudio Descalzi.
“The meeting was a chance to further strengthen the relationship between the two companies and was an opportunity to discuss ongoing joint projects as well as future opportunities between CNPC and Eni across the energy value chain,” said Eni.