Sinopec International Petroleum Exploration and Development Corporation (“SIPC”), a wholly-owned subsidiary of SINOPEC Group, is specialized in overseas oil and gas investment and operations. SIPC was established in January 2001，headquartered in Beijing and consists of 19 departments and 28 overseas companies. The primary business of SIPC includes the following: Investments in the exploration, development, production, sale, storage and transportation of oil and gas.
China Petrochemical Corporation (SINOPEC), as the parent company of SIPC, is a super-large petroleum and petrochemical group established in July 1998 on the basis of the former China Petrochemical Corporation, headquartered in Beijing. Sinopec Group has a registered capital of RMB 182 billion.