BP and CNPC explore Hainan CCUS project
European oil major agrees to work with CNPC as Chinese state company seeks international partnerships to grow deployment of CCUS
BP has signed an agreement with a subsidiary of China’s state-controlled oil and gas company CNPC to jointly explore the development of a regional CCUS hub on China’s southern island province of Hainan. Under the agreement, which was signed on the sidelines of the recent seventh International CCUS Summit in Beijing, the European oil major will work with CNPC’s Southern Petroleum Exploration and Development subsidiary. BP has a longstanding strategic relationship with CNPC in oil and gas. The CNPC subsidiary was one of the earliest oilfield operators in China to carry out CCUS pilot tests and has constructed a full-flow CCUS system at the Fushan oilfield in Hainan, with 180,000t of CO₂ seques
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