Rosneft and CNPC signed a memorandum on scientific and technical cooperation
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Rosneft (MOEX: ROSN) and the China National Petroleum Corporation signed a memorandum of scientific and technical cooperation. This is stated in a press release on website Russian company.
“The Rosneft Scientific Institute in Ufa and the Research Institute of the China National Petroleum Corporation (CNPC) entered into an agreement on technological cooperation in the field of design and modeling of the hydraulic fracturing (HF) process within the framework of the V Russian-Chinese Energy Business Forum,” – the message said.
The memorandum provides for joint laboratory research and mathematical modeling during hydraulic fracturing. Previously, Rosneft and CNPC signed a license agreement for the use of RN-GRID software (hydraulic fracturing simulator).
Hydraulic fracturing is a technology for intensifying the work of oil and gas wells.
The day before the agreement with CNPC signed Gazprom (MOEX: GAZP). The parties agreed on additional gas supplies to China via the Power of Siberia gas pipeline.
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