PetroChina Xinjiang Marketing Co. has signed a strategic cooperation framework agreement to secure product oil supply, as well as to develop an oil and gas marketing network, with the Aksu prefecture government. The strategic cooperation between both parties has entered a new stage.
So far, PetroChina Xinjiang Marketing has 96 gas stations in the Aksu prefecture, and the sales volume reached 339, 8000 metric tons in 2009, accounting for 61.36% of the market share. As reported, CNPC will invest USD 43.9 billion to build Xinjiang into the largest oil and gas production base, refining and chemical base, oil reserve base, and engineering and technical service base during the next 10 years.
By 2015, CNPC's oil and gas production scale in Xinjiang will reach more than 16 million metric tons and 10 billion cum, respectively, and its oil and gas equivalent in Xinjiang will be expanded to 50 million metric tons.