China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas producer in China, recently paid a courtesy call on Minister of Natural Re-sources and the Environment Robert Persaud to discuss bilateral cooperation in petroleum and other related areas of investment in Guyana.
The team included CUI Hanyun, Overseas Explora-tion Inspector of China National Offshore Oil Corporation and HU Gencheng, South America Exploration Project Manager of CNOOC, while Commis-sioner of Guyana Geology and Mines Commission, Karen Livan and other technical officers were also present, a press release stated.
The meeting centred on the enhancement of mutual understanding, status of oil exploration in Guyana, the requirements (such as laws and regulations) for foreign investment in oil in Guyana, as well as the investment environment, infrastructure, port, etc., and general cooperation with the Ministry of Natural Resources and the Environment in the area of training and to obtain data about oil exploration in Guyana. CNOOC has been engaging the Government of Guyana since early 2010, the release stated.
CNOOC is a mega government –owned company operating directly under the state-owned Assets Supervi-sion and Administration Commission of the State Council of the People’s Republic of China.
In 2011, the company’s rankings in the Top 50 global oil companies and Fortune Global 500 rose to 34th and 162nd respectively, the release noted.
The headquarters of CNOOC is in Beijing and the company employs approximately 98, 750 persons for all business. The six main business segments of the company are oil and gas exploration and development, professional technical services, refining, sales and fertilizers, natural gas and power generation, financial services and alternative energy resources, the release added.
