NAFTOGAZ MOVES FORWARD WITH USING CHINESE DRILLING EQUIPMENT AND SERVICES
12 April, 2019, Kiev - Last week in Beijing, the team of NAK “Naftogaz of Ukraine”, headed by Chairman of the Board Andrei Kobolev, held talks with the management of the largest state-owned Chinese oil and gas corporation China National Petroleum Corporation (CNPC).
According to the company press-department, during the meeting, the two sides discussed practical steps for the start of cooperation between the two state-owned oil and gas companies, aimed at increasing hydrocarbon production and using the latest equipment and technologies in Ukraine.
As Andrei Kobolev noted, the Naftogaz group already has successful cooperation experience with Chinese companies that have demonstrated a high professional level both in drilling projects and in the supply of modern drilling equipment for the group's enterprises.
Also during the visit to China, the Naftogaz team held a number of working meetings with representatives of leading state banking institutions in China, at which they discussed possible terms for financing the projects of the Naftogaz group within the quota allocated for the group from Chinese Sinosure.
Earlier, on 1 April, Naftogaz of Ukraine and the Chinese state export credit agency Sinosure signed official memorandum between for the total amount of $1bn in Beijing, which allows to attract within this amount debt financing and direct investments from Chinese corporations and financial institutions.
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