China National Petroleum Corporation (CNPC), the parent company of China's top oil and natural gas producer PetroChina (PTR.NYSE; 00857.HK; 601857.SH), Monday signed a non-binding strategic cooperation agreement with Mubadala Petroleum of the United Arab Emirates (UAE), said a release by the CNPC.
The two sides would carry out cooperation in investment and relevant service along the upstream of oil and natural gas industry outside the UAE. Included are onshore conventional projects, offshore projects and LNG projects. Established in 2012, Mubadala Petroleum, a subsidiary of Mubadala Development Company, is an international player on exploration and production of oil and natural gas.
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