Development Strategy

Overall objective of oil and gas exploration and development:

Continue to grow business in Africa, South America, Russia-Central Asia, Middle East, Asia-Pacific region, and North America; reach annual oil production of 50mmton and annual gas output of 5 billion cubic meters by 2015.

Objective of operation and management:

Develop SIPC into a competitive international oil company with strong technical innovation, resource allocation, risk control and human resources as well as best in class business performance, corporate governance, asset structure, and corporate image.

Operation and Management Strategies:

(1) Culture: strengthen the integration of diverse cultures, define the core values of the company, and build a unique corporate culture.

(2)Management: implement a flat and efficient management structure, improve the operating mechanism to match international standard, and reinforce management support system.

(3)Technology: intensify technological innovation, enhance technology development and application cooperation, and promote the integration of operation technology management.

(4)Talent: source talent globally, develop a leading international talent team, standardize staff training, and incentivize and retain staff with comprehensive policies.