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ATURAL GAS PROSPECTINGSTRATEGIC COOPERATION BETWEEN HONGHUA GROUP ANDSHENHUA GEOLOGICAL PROSPECTING

soruce:manager    click:4511    time:2014-01-02

OnFebruary 14, 2013, Honghua Group Ltd and Shenhua Geological Prospecting Ltdformally signed a strategic framework agreement for unconventional natural gasprospecting. The two parties will form a cooperation alliance in unconventionalgas prospecting and development, for essential technical research anddevelopment of both parties in a joint effort to create a top brand as acontributor to the development of China’s natural gas industry.


Shenhua Geological Prospecting as a branch company of Shenhua Group will be asubject unit in Shenhua Group unconventional natural gas projecting anddevelopment. The cooperation between Honghua Group and Shenhua GeologicalCompany aims at cooperation in developing their respective advantages inunconventional natural gas development, research, consultation and equipment.The agreement promises that Shenhua Geological Prospecting Company, in theprocess of cooperation, will provide management and engineering expenses andHonghua Group will provide operators and equipment, undertake engineering workoperation and will provide corresponding staff training and technical supportfor Shenhua Geological Prospecting Company.
   

HonghuaGroup board chairman Zhang Mi indicates, “Shenhua Group is a large-scale energysource backbone enterprise of China and Honghua Group is pleased to cooperatewith Shenhua. The cooperation between these 2 strong enterprises will open up alarge space in researching and developing unconventional natural oil and gastechnologies, in related equipment and application which are suitable to Chinaand the world.


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