Rosneft and CNPC sign a Fracturing Technology Joint Development Agreement

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Hydraulic fracturing is a key technology for enhancement of oil recovery.

Rosneft developed the first in Eurasia industrial hydraulic fracturing simulator (RN-GRID) as part of delivery of its digital strategy in 2017. This import-substituting software enables technological independence of the Russian oil and gas industry in the field of computer modeling which is essential for the application of hydraulic fracturing technology. In 2018, Rosneft started commercial operation of the unique software system. RN-GRID is much cheaper than its foreign analogues, however, its performance surpasses these.

Rosneft has already sold more than 700 commercial licenses to use the software system. The largest Russian and international oilfield services and oil and gas companies were among the purchasers of RN-GRID.

Rosneft and CNPC have been reliable partners for almost two decades now. The companies successfully cooperate in a variety of areas contributing to the development of the energy dialog between Russia and China.

Rosneft and CNPC cooperate through a Joint Coordination Committee (JCC) which was established by our companies in 2017 to explore new promising areas of cooperation. Among them are: cooperation in exploration and development of oil and gas fields, oil refining and petrochemicals, trading oil and petroleum products, research and technology development, personnel training, etc.

Rosneft and CNPC are co-organizers of the Russian-Chinese Energy Business Forum, which was established by order of the Russian President Vladimir Putin and Chinese President Xi Jinping. The Forum aims to develop a dialog between Russia and China in the energy sector, increase bilateral trade turnover, expand the portfolio of joint projects, and source investments and project financing

Since 2018, four Forums have already been held with around 60 agreements on mutually beneficial cooperation in the energy sector signed.

As part of the agreement signed in February 2022, Rosneft and CNPC are also exploring prospects for cooperation in a number of areas of low-carbon development. In particular, this means reduction of greenhouse gas emissions, including methane, energy efficiency technologies, and CO2 capture and storage (CCS).