Relying on national policy advantages, targeting the hydrocarbon enriched regions along the "Belt and Road", ZPEC endeavors to acquire high quality global oil and gas assets, concentrating on four strategic selection areas: Central Asia, Middle East, Africa, and America. We develop our E&P business following these working principles:
1. Strategically focusing on the regions along the “Belt and Road” to hunt for the rich oil and gas resources with strong prospective potential in Central Asia, Middle East, Africa, and America；
2. Optimizing the selection of E&P assets from large-scale oil and gas producing areas, big basins, and hydrocarbon enrichment zones around the world；
3. Targeting the conventional hydrocarbon resources to acquire oil assets at the short term and gas assets in the long run to build a high-quality and diversified portfolio；
4. Preferring to develop the field at the stage of near-to-production, or to dig the potential of brown fields by application of secondary development or EOR methods, carefully expanding exploration activity aimed at high potential blocks；
5. Being cautious about the investment in offshore, deep zones, and unconventional hydrocarbon resources.
While expanding overseas oil and gas exploration and development projects, including mergers and acquisitions activity, ZPEC also focuses on its domestic petroleum industry development. On January 23, 2018, ZPEC bid a reasonable price of ¥866 million for the Wensu block in Xinjiang Province. They acquired the oil and gas exploration prospecting rights, signed the Purchase Contract with the Ministry of Land and Resources of the People’s Republic of China, and became the only private enterprise to win a bid during this round of China's oil and gas reform pilot exploration blocks. On June 6, 2018, ZPEC was officially granted the mineral resources exploration license for the Wensu block in Xinjiang by the Ministry of Land and Resources.