Hottest Sinopec acquires shell assets in Cameroon

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Xinhua Beijing, November 3 special telegram (Hu Junchao, Wang Yu) learned from Sinopec on November 3 that Sinopec International Petroleum Exploration and development company's $538million acquisition of 80% of the shares of Cameroon Petro China owned by shell in the local manufacturing market was completed on October 31

on May 25 this year, Sinopec International Petroleum Exploration and Development Corporation signed a purchase agreement with shell oil company through its wholly-owned subsidiary, Swiss adax oil company, to purchase all 80% of the shares of Cameroon Petronas held by shell for $538million, and Cameroon national oil company holds the remaining 20% of the shares of Petronas

according to Sinopec, pekton oil company holds 12 production and exploration blocks in the oderre basin near the sea in Cameroon, of which 2 blocks are operators. On the transaction base date (2. From the test results, it can be estimated how long the material extruder can work normally in the face of various environments in actual use. December, 2010, assuming that non-standard samples will be made on December 31), the remaining oil reserves under Sinopec's equity are 35.9 million barrels. It is estimated that the daily output of equity in 2011 is about 11900 barrels per day, equivalent to an annual output of about 600000 tons

Sinopec International Petroleum Exploration and development company is a wholly-owned subsidiary of China National Petroleum and Chemical Corporation, which is responsible for overseas upstream oil and gas investment and operation. This transaction is the first time Sinopec has obtained oil and gas production in Cameroon

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