Rosneft and CNPC Signed an Agreement on Joint Development of Hydraulic Fracturing Technology
The Rosneft Scientific Institute in Ufa and the Research Institute of the China National Petroleum Corporation (CNPC) entered into an Agreement on technological cooperation in the field of design and modeling of the hydraulic fracturing (HF) process within the framework of the V Russian-Chinese Energy Business Forum.
The document provides for joint laboratory research and mathematical modeling during hydraulic fracturing.
The signing of the Agreement is an important step for the Company in the development of scientific and technological cooperation between the two companies and the next stage in promoting a line of corporate software products and effective technical solutions to foreign markets.
Earlier, Rosneft and CNPC signed a license agreement for the use of RN-GRID software, a technology for modeling and designing hydraulic fracturing. Rosneft’s own development helps to increase the efficiency of CNPC’s oil and gas field development.
