We develop our E&P business following the below working principles: strategically focus on the regions along “Belt and Road” to hunt for the rich oil and gas resources with strong prospective potential in Central Asia, Middle East, Russia; optimize the selection of E&P assets from large-scale oil and gas burying areas, big basins, and hydrocarbon enrichment zones around the world.

Target the conventional hydrocarbon resources to acquire oil assets at the short term and gas assets in the long run to build a high-quality and diversified portfolio. Prefer to develop the field at the stage of near-to-production, or to dig the potential of brown fields by application of secondary development or EOR methods, carefully expand exploration activity aiming at high potential blocks.

Be cautious about the investment in offshore, deep zones and unconventional hydrocarbon resources.

The world energy development trend predicts the petroleum industry will maintain a good prospect in the next 20 years. It is the right time for CREIC to enter into upstream business. The overseas oil and gas fields E&P is quite challenging, featured by large-scale pre-stage capital investment with long term ROI and technology-intensive. The key for a successful beginning is to optimize the selection of assets, develop the appropriate working strategy and keep right direction to continuously move forward.