ITOCHU Corp. and CITIC Resources sign MoU
Published by Angharad Lock,
Digital Assistant Editor
Oilfield Technology,
ITOCHU Corp. has announced the signing of a MoU with CITIC Resources Holdings Ltd, for collaboration in oil and gas exploration and production.
CITIC Resources is a 59.50% subsidiary of CITIC Ltd, with which ITOCHU formed a strategic business alliance with capital participation in January 2015.
The memorandum of understanding signed outlines future collaboration in the E&P business including potential joint acquisition of prime E&P assets, and will underpin and form a part of the strategic alliance between the groups.
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/22062016/itochu-corp-and-citic-resources-sign-mou-2679/
You might also like
Perenco completes acquisition of oil and gas fields from Woodside Energy in Trinidad & Tobago
Perenco has announced the completion of the acquisition of the Greater Angostura producing oil and gas assets and associated production facilities from Woodside Energy in Trinidad & Tobago. The finalisation of the deal, combined with Perenco’s existing operation of the Teak, Samaan and Poui (TSP) and Cashima, Amherstia, Flamboyant and Immortelle (CAFI) fields, aligns Perenco as a major oil and gas producer in country.