CNPC Sets Up Mideast Headquarters In Dubai Free Zone
China National Petroleum Corporation (CNPC) has agreed to
set up its regional headquarters in the Jebel Ali Free
Zone (Jafza) of Dubai to oversee investments, oil
services and trading in the Middle East, according to
state media and a CNPC source.
The new headquarters covers 55,000 square metres and
includes a 10,000 sq m multi-storey office and warehouse
facility for oil and gas equipment, China's official
Xinhua news agency reported on Tuesday.
All of CNPC's 16 companies operating in the region will
have their offices at Jafza, Zhu Junfeng, chief executive
of CNPC Middle East was cited as saying.
The announcement came shortly after CNPC agreed to
acquire 8 percent in Abu Dhabi's giant onshore oil and
gas project known as ADCO.
CNPC, parent of Asia's largest oil and gas company
PetroChina, has since last year centralized its
activities in the Middle East via an expanded Dubai
operation that covers upstream investment, oilfield
services as well as oil trading, said a Dubai-based CNPC
Apart from UAE, CNPC invests heavily in Iraq and has
recently stepped up oil and gas activities in Iran.