China North East Petroleum Holdings Ltd. (NEP) Expands Oilfield Production Footprint in Jilin, Moves to Acquire Qian 122
Today, China North East Petroleum, already well positioned in the Chinese oil production market via agreements with PetroChina for the extraction of crude oil at five oilfields in Jilin, reported entry into a share transfer agreement to purchase exclusive exploration and drilling rights to the Qian 122 oilfield in Jilin Province, with China Kinwa High Technology Co., Ltd., and its wholly-owned subsidiary Beijing Shixin Taide Investment Consultancy Co., Ltd. This strategic acquisition expands an already solid footing in Jilin for private oilfield production and services industry adept NEP. This pioneering independent oil company is the first non-state-owned Chinese firm of…