On July 23, Chairman Wang Yuetao of ZhenHua Oil, accompanied by Vice General Manager Hu Keyu, met with Dr. Sultan Ahmed Al Jaber, CEO of ADNOC, and his delegation in Beijing. The day before the formal meeting, a delegation led by Mr. Musabbeh Al Kaabi, Executive Director, Low-Carbon Solutions & International Growth Directorate of ADNOC visited the headquarters of ZhenHua Oil and made a special discussion and exchange with us on the current cooperation priorities.

During the meeting with Dr. Sultan, Wang Yuetao extended his appreciation for the supports and assistance given by ADNOC to ZhenHua Oil in the aspects of crude oil trade, technical cooperation and other fields, presented the progress of the technical cooperation projects such as infrared gas monitoring and intelligent warning system, and special gel plugging in details, and expressed the vision to further cooperate with ADNOC Gas. He stressed that ZhenHua Oil has rich experience in oilfield operation and management, is willing to make its contribution as a shareholder to the sustainable development of ADNOC, and hopes that both parties will keep close communication to seek for the all-round cooperation opportunities.

Dr. Sultan fully affirmed the active role of ZhenHua Oil as a shareholder of ADNOC Onshore, and said that ZhenHua Oil is one of the most cooperation partners of ADNOC in China. He hoped that both parties could make efforts jointly to exploit the huge potential of the Chinese market and develop new concept of crude oil trade, refined oil products, chemical and other fields. He also hope ZhenHua Oil could take part in the unconventional oil & gas field development of ADNOC and offer the Chinese solutions constantly. Both parties also made a deep exchange on the global climate change and the global economic development trend, and unanimously agreed to keep the close cooperation in carbon emission reduction, clean energy development and other aspects, and make positive efforts for the global green energy transformation.