CPC and CS Resources work jointly on heavy oil and oil sands projects

Feb 26, 1997 01:00 AM

The Chinese Petroleum Corporation and CS Resources International Inc. have agreed to collaborate toward the development of heavy oil and oil sands projects in Canada and other countries. It is expected that such projects will benefit from the application of CS Resources' technologies and Chinese Petroleum Corporation's international oil marketing expertise.
Chinese Petroleum Corporation is a state owned oil refining and marketing company in Taiwan. The Corporation operates two refineries with a total capacity of 770,000 barrels per day, and a network of over 1,200 retail stations. Chinese Petroleum Corporation has international oil exploration and production projects in the USA, Ecuador, Colombia, Kazakhstan, Myanmar, Indonesia, Vietnam and Malaysia with total crude oil production of 30,000 barrels per day.
CS Resources is a Calgary-based petroleum company with operations focused in the western Canada sedimentary basin. CS Resources, which currently produces 15,000 barrels per day, has developed leading-edge horizontal well technologies for the recovery of heavy oil and bitumen.
This strategic relationship between CS Resources and Chinese Petroleum Corporation will allow them to effectively expand their respective participation in the in situ development of heavy oil and bitumen resources throughout the world.

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