A Naftogaz team led by CEO Andriy Kobolyev was in Beijing last week for high-level negotiations with the China National Petroleum Corporation (CNPC).
The meeting was dedicated to practical cooperation between the two national oil and gas companies to introduce cutting-edge equipment and technologies in order to achieve higher hydrocarbon production in Ukraine.
Kobolyev commented that Naftogaz group has positive experience of cooperation with Chinese companies in drilling projects and in the supply of drilling equipment to Naftogaz enterprises.
During their visit to China, the Naftogaz team held a number of meetings including with representatives of China’s leading national banking institutions over possible funding options for Naftogaz group projects within the framework of an insurance quota provided by Sinosure.
On 1 April, NJSC Naftogaz of Ukraine and China Export and Credit Insurance Corporation (Sinosure) signed a memorandum of understanding regarding a USD 1 billion insurance quota, which enables loans and foreign direct investments from Chinese corporations and financial institutions.