CNPC (HK) plans to buy 50% stake of two oilfields in Peru

CNPC (Hong Kong) (0135) announced that on April 24, 2001, it signed a non-legally building letter of intent with China Petroleum Technology Development about the first stage negotiation over the acquisition of the 50% shareholding of SAPET Development Corporation (SAPET) in US. SAPET owns the exploitation rights of two oilfields in Talara Oilfield in Peru.

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