CNPC and Total have signed a strategic cooperation agreement

​CNPC and Total have signed a framework agreement on strategic cooperation, CNPC reports.

CNPC and Total will unite their efforts in the sphere of investment into the oil and gas sector, decisions upon the cooperation issues and realization of research and advanced development program and oil services.

CNPC and Total will also strengthen cooperation in the sphere of corporate management, cultural innovations and social responsibility. The companies also intend to strengthen the partnership and cooperation on the stable basis.

CNPC is one of the main suppliers and contractors in the oil and gas industry in the world. The company runs oil and gas investment operations in 29 countries, it is the 3rd in the top-50 largest oil companies of the world.

Total mainly works in the oil and gas markets, it is the 3rd largest oil extraction company in Europe. Total holds a 18.9% stake in Novatek, and 20% stake in Yamal LNG.