China National Petroleum Corporation (CNPC) is a world-known diversified energy corporation dealing with exploration and development of oil and gas fields, oil processing and petrochemical production, marketing of oil products, oil and gas storage and transportation, oil trade, engineering and technical maintenance and manufacturing of the oil and gas equipment.
CNPC is the world’s fifth in the list of 50 biggest oil and gas companies, the 6th in the top 500 companies in the world and the first among the biggest Chinese companies specializing in oil and gas extraction and supply. Currently, CNPC is an investor in the petroleum industry in 29 countries. The CNPC manufactured oil materials and equipment are sold in 68 countries and regions of the world.
On July 17, 2007, during Esteemed President of Turkmenistan Gurbanguly Berdimuhamedov’s visit to China, the Production Sharing Agreement between the State Agency on Management and Use of Hydrocarbon Resources at the President of Turkmenistan and CNPC on the Bagtiyarlik contracted territory and the Natural Gas Purchase and Sale Agreement between Turkmengaz State Concern and CNPC were signed. According to these agreements, CNPC will carry out full-scale exploration, development and production of natural gas on the Bagtiyarlik territory for 30 years and will supply natural gas to China for sale by Turkmen-Chinese Gas Pipeline. 9/3/2014 of year during visit to Turkmenistan Chairman of the People’s Republic of China Xi Jinping has been signed the contract between CNPC and «GK Turkmengaz» on designing, purchase and building (EPC) «on a turn-key basis» Object productivity of 30 billion cubic meters of commodity gas in a year on a deposit of «Galkynysh» in Turkmenistan.