BEIJING, May 21 (Xinhua) -- China National Petroleum Corporation (CNPC) announced last Thursday that the first ship of 44,000 tonne equity oil from the Brazil’s Libra oil project had successfully arrived at Dalian Port.
This means that the investment of CNPC in its first ultra-deepwater oil project has started to pay off, according to a report by Xinhua-run cnstock.com.
The Libra oil project is Brazil’s first production sharing contract（PSC）in which CNPC takes up 10 percent share. The deal was inked in December, 2013 and the project went into operation in November, 2017.
CNPC and China National Offshore Oil Corporation (CNOOC) this March successfully carried out joint oil extraction from the project from which crude oil was shipped to Dalian port and then carried to Jinzhou Petrochemical Co.,Ltd and PetroChina Jinxi Petrochemical Company for refining and processing. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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