Repsol chairman Antonio Brufau and Sinopec chairman Su Shulin in Madrid presided over the first joint meeting at the top corporate level between both companies following the agreements reached in Brazil.
At the meeting, both chairmen agreed to create working groups to analyse new business opportunities worldwide.
Both Brufau and Shulin expressed their desire that the Repsol-Sinopec alliance goes beyond the agreement in Brazil.
“There are significant synergies between Repsol and Sinopec, and the relationship between both companies is ideal to continue reinforcing our alliance worldwide in new business areas,” Antonio Brufau commented on the occasion.
Su Shulin added: “The successful co-operation between Sinopec and Repsol reflects the shared desire of both companies to start a long-term and extensive partnership. We are committed to making every effort to consolidate and develop this relationship with Repsol in the future.”
In October last year Repsol and Sinopec agreed to jointly develop the exploration and production of its Brazil offshore assets and to create one of the Latin America’s largest private energy companies valued at US$17.8 billion. Brazil is believed to have one of the world’s fastest-growing oil and gas reserves.
