Kuwait-Sinopec/Cooperation

Chinese oil companies' achievements in Kuwait regarded as model of win-win cooperation

  • English
  • العربية

Shotlist


Kuwait - Aug 7, 2017
1. Drilling rig
2. Various of staff of Sinopec on drilling rig
3. SOUNDBITE (Chinese) Zhang Congbang, general manager of Kuwait branch of Sinopec Group (partially overlaid with shot 4):
"Local companies also go to China to buy equipment like us. We can see many Kuwaitis on flights to China, and most of them go to China to buy equipment. There are a few Chinese-made drilling rigs and blowout preventers sold to Sinopec, but many sold to local enterprises. With the influence of Kuwait, many were also sold to the UAE,Oman and other countries."
++SHOT OVERLAYING SOUNDBITE++
4. Zhang reading paper
++SHOT OVERLAYING SOUNDBITE++
5. Various of staff working on drilling rig
6. Various of drilling rig
7. Various of staff at conference
8. Various of certificates of Sinopec Kuwait branch
9. Group photo of Kuwait Oil Minister, Sinopec staff
10. Group photo of KPC (Kuwait Petroleum Corporation) board members, guests of KOC (Kuwait Oil Company) CMD, Sinopec staff

Storyline


Chinese oil companies' achievement in Kuwait is regarded as a model of win-win cooperation between the two countries under the Belt and Road Initiative as the companies rapid development drives China's equipment export and lays foundation for Kuwait's economic development.

China Petrochemical Corporation (Sinopec Group), the largest drilling contractor in Kuwait, has 51 drilling rigs in Kuwait with Chinese-made associated equipment worth 4.3 billion yuan. When local enterprises in Kuwait found the Chinese-made equipment is of high quality but lower prices, they decided to import such associated equipment from China.

"Local companies also go to China to buy equipment like us. We can see many Kuwaitis on flights to China, and most of them go to China to buy equipment. There are a few Chinese-made drilling rigs and blowout preventers sold to Sinopec, but many sold to local enterprises. With the influence of Kuwait, many were also sold to the UAE,Oman and other countries," said Zhang Congbang, general manager of Kuwait branch of the Sinopec Group.

The rapid development of Sinopec's projects in Kuwait has also brought up over 50 teams from five regional companies of Sinopec, which took international standard and project management mode back to China.

Sinopec entered Kuwait in 2008, and in less than a decade it has become the largest drilling contractor in the country, despite challenges from existing competitors from the West. By the end of 2016, it has drilled 737 wells and repaired 2,727 wells.

On average, it has completed well constructions three to five days ahead of schedule, which means additional 300,000 barrels of crude oil can be produced every day. Apart from the scheduled quota, Sinopec also worked on extra 200 wells in the past years, which means another 300,000 barrels of crude oil can be produced per day.

Sinopec's achievement has laid a solid economic foundation for Kuwait to increase oil output and achieve its Vision 2035, aimed at economic diversification.

By the first quarter of this year, Kuwait branch of the Sinopec Group has signed contracts worth more than 20 billion yuan, serving as landmark contracts for win-win cooperation between China and Kuwait under the Belt and Road Initiative. Its success has also become a model of Chinese and overseas companies' win-win cooperation under the initiative.

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  • ID : 8058779
  • Dateline : Aug 7, 2017
  • Location : Kuwait
  • Category : economy, business and finance
  • Duration : 2'00
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2017-08-19 11:40
  • Last Modified : 2017-08-19 18:55:00
  • Version : 1
  • ID : 8058779
  • Dateline : 7 أغسطس 2017
  • Location : الكويت
  • Category : economy, business and finance
  • Duration : 2'00
  • Audio Language : الصينية/ الصوت الطبيعي
  • Source : تلفزيون الصين المركزي
  • Restrictions : ممنوع البث في بر الصين الرئيسي
  • Published : 2017-08-19 18:51
  • Last Modified : 2017-08-19 18:55:00
  • Version : 1

Kuwait-Sinopec/Cooperation

Chinese oil companies' achievements in Kuwait regarded as model of win-win cooperation

Dateline : Aug 7, 2017

Location : Kuwait

Duration : 2'00

  • English
  • العربية


Kuwait - Aug 7, 2017
1. Drilling rig
2. Various of staff of Sinopec on drilling rig
3. SOUNDBITE (Chinese) Zhang Congbang, general manager of Kuwait branch of Sinopec Group (partially overlaid with shot 4):
"Local companies also go to China to buy equipment like us. We can see many Kuwaitis on flights to China, and most of them go to China to buy equipment. There are a few Chinese-made drilling rigs and blowout preventers sold to Sinopec, but many sold to local enterprises. With the influence of Kuwait, many were also sold to the UAE,Oman and other countries."
++SHOT OVERLAYING SOUNDBITE++
4. Zhang reading paper
++SHOT OVERLAYING SOUNDBITE++
5. Various of staff working on drilling rig
6. Various of drilling rig
7. Various of staff at conference
8. Various of certificates of Sinopec Kuwait branch
9. Group photo of Kuwait Oil Minister, Sinopec staff
10. Group photo of KPC (Kuwait Petroleum Corporation) board members, guests of KOC (Kuwait Oil Company) CMD, Sinopec staff


Chinese oil companies' achievement in Kuwait is regarded as a model of win-win cooperation between the two countries under the Belt and Road Initiative as the companies rapid development drives China's equipment export and lays foundation for Kuwait's economic development.

China Petrochemical Corporation (Sinopec Group), the largest drilling contractor in Kuwait, has 51 drilling rigs in Kuwait with Chinese-made associated equipment worth 4.3 billion yuan. When local enterprises in Kuwait found the Chinese-made equipment is of high quality but lower prices, they decided to import such associated equipment from China.

"Local companies also go to China to buy equipment like us. We can see many Kuwaitis on flights to China, and most of them go to China to buy equipment. There are a few Chinese-made drilling rigs and blowout preventers sold to Sinopec, but many sold to local enterprises. With the influence of Kuwait, many were also sold to the UAE,Oman and other countries," said Zhang Congbang, general manager of Kuwait branch of the Sinopec Group.

The rapid development of Sinopec's projects in Kuwait has also brought up over 50 teams from five regional companies of Sinopec, which took international standard and project management mode back to China.

Sinopec entered Kuwait in 2008, and in less than a decade it has become the largest drilling contractor in the country, despite challenges from existing competitors from the West. By the end of 2016, it has drilled 737 wells and repaired 2,727 wells.

On average, it has completed well constructions three to five days ahead of schedule, which means additional 300,000 barrels of crude oil can be produced every day. Apart from the scheduled quota, Sinopec also worked on extra 200 wells in the past years, which means another 300,000 barrels of crude oil can be produced per day.

Sinopec's achievement has laid a solid economic foundation for Kuwait to increase oil output and achieve its Vision 2035, aimed at economic diversification.

By the first quarter of this year, Kuwait branch of the Sinopec Group has signed contracts worth more than 20 billion yuan, serving as landmark contracts for win-win cooperation between China and Kuwait under the Belt and Road Initiative. Its success has also become a model of Chinese and overseas companies' win-win cooperation under the initiative.

ID : 8058779

Published : 2017-08-19 11:40

Last Modified : 2017-08-19 18:55:00

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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