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CNPC and CITIC Group sign strategic cooperation agreement

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Publish time: 10th October, 2011      Source: CNPC
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On October 9 in Beijing, CNPC and China International Trust and Investment Corporation (CITIC) signed a strategic cooperation memorandum and a framework agreement on overall oil and gas cooperation in Kazakhstan. CNPC Vice President Zhou Jiping and CITIC President Tian Guoli signed the framework agreement.

CITIC is the largest comprehensive enterprise group in China, with 81% of its total assets in the financial sector, and 18% in real estate, civil infrastructure, project contracting, resources and energy, manufacturing, and IT businesses. In recent years, CITIC has been engaging in the investment and management of oil and gas projects in Kazakhstan, Indonesia and other countries.