On July 16th, the external evaluation meeting of GCL Natural Gas Group’s Ethiopian-Djibouti natural gas project development plan was held in the Beijing office, attended by Wang Lin, Chairman of GCL Natural Gas Group, Vice Chairman Yu Baodong, President Zhou Gan, Investment Director of the Guolian Fund Lu Yang, Assistant General Manager of CCCC Industrial Investment Xu Jun, and President of Chuangqing Geological Research Institute Ouyang Cheng.

     The scope of external review of the development program included the following seven aspects of the optimized development plan for Ethiopia’s 3 million tons per annum LNG project: geological engineering, gas reservoir engineering, drilling, completion, gas extraction engineering, ground engineering, economic evaluation, government laws and regulations. The invited panel members were Li Haiping, a senior engineer at the expert and professor level of the PetroChina Consulting Center, Lu Jialiang, the chief expert of the PetroChina Exploration Institute, Lu Hong, the former deputy general manager of CNODC of PetroChina, Guo Li, an assistant general manager of the China National Petroleum Exploration and Development Corporation, Xin Junhe, an expert in drilling technology at the China National Petroleum Exploration Institute, and a senior production engineering expert of Sinopec Petroleum Exploration and Production Research Institute Shen Qiang, former vice president of North China Oilfield Design Institute Fan Jingbin, professor-level senior economist Zhao Liansheng of CPPEI, and Chen Xiaoping, former director of CNPC Cost Center. The above 9 leading external experts reviewed the overall development plan of Calub, Hilala and Dohar oilfields in Ogaden Basin developed by GCL Natural Gas Group.

     At the meeting, Wang Lin, chairman of GCL Natural Gas Group, and Yu Baodong, vice chairman of GCL Natural Gas Group, welcomed the arrival of invited experts on behalf of the company and introduced the future strategy of GCL Natural Gas Group. In the morning of the meeting, Zhang Xinghua, Executive General Manager of commercial contract department of GCL Natural Gas Group, and Huang Long, senior director of development and production department of Poly-GCL Petroleum Group reported on the contents of government laws and regulations and the overall development plan of the project involved in the Ethiopian natural gas project respectively. In the afternoon of the meeting, in accordance with the meeting process, the relevant professionals will be assigned to the 5 conference sites, and each responsible person and relevant experts discussed the details of each aspect of the development program in depth. The preparation party of this development program, Chuangqing Geological Research Institute, participated in the meeting by video, and gave a detailed explanation of the specific parameter basis for preparing the geological, gas reservoir, gas extraction and drilling process of the development program. Li Wei, Vice President of GCL Natural Gas Group, Lv Jianfeng, Chief Accountant of the Upstream Division of GCL Natural Gas Group conducted in-depth exchanges with experts on relevant fiscal policies, taxation, laws and regulations of Ethiopia. The experts group made valuable comments and recommendations based on the discussions at the meeting.  

     The successful convening of this review meeting provided guidance for the company to accelerate the construction of the 3 mtpa LNG project. The GCL Natural Gas Group will promote the project in the light of expert advice to achieve project production.