The company said on Thursday it had entered into a memorandum of understanding with Beijing Junlun Runzhong Science & Technology to acquire the latter’s subsidiary Hefei Xinxin Petrochemical (Xinxin), which operates the Daerqi and Weng Te fields in Inner Mongolia.
The two fields were discovered by China’s state-owned Sinopec in the mid-1990s. Xinxin took over as operator in 2008 and brought the Daerqi shallow oilfield onto commercial production.
Daerqi
