Chinese Eager to Enter Oil Sector in Russia's Tyumen Region

June 26, 2014

The main good China seeks in West Siberia is oil, Beijing's consul-general in Yekaterinburg Tian Yunsan said during a visit to Tyumen Region. "And China is ready to invest in developing production in Russia", he said, "We have received a great number of projects and proposals for investment."

"From our side, we will agree to conduct a thorough study of them and reach out to cooperate with serious representatives of Chinese business. After this work, we will form a delegation of Chinese businessmen to visit your region. So far, no official agreements have been signed, but I believe that much lies ahead of us and agreements will be signed in the near future", Tian said after meeting Tyumen deputy governor Vadim Shumkov. 

The Chinese consul said he sees prospects for cooperation in the oil and gas sector as well as in agriculture and education.

"as far as Tyumen goods on the Chinese market are concerned, the main good for us from West Siberia is oil. And we are actively buying it!", Tian said. He stressed that cooperation betweeen China and Tyumen Region in the oil and gas industry started even before the agreement signed between Gazprom and the Chinese National Petroleum Corporation.

"YEsterday, I personally met representatives of CNPC who have opened a rep office in Tyumen. The company not only supplies specialized equipment for oil and gas fields, it is also involved in geological survey work. While no big successes have come in oil exploraiton yet, everything still lies ahead of us", Tian Yunsan said.

Source: Oil and Gas Information Agency , 2014.