On December 8, a strategic framework agreement was reached between CNPC and China Shipbuilding Industry Corporation (CSIC). The two companies will expand cooperation in the fields of large shipbuilding, onshore/offshore petroleum exploration equipment manufacturing, oversea trade, and staff and technical communication.

CNPC President Jiang Jiemin and CSIC President Li Changyin were present at the signing ceremony and delivered speeches respectively.

China Shipbuilding Industry Corporation (CSIC), as China's largest shipbuilder, not only possesses the largest shipbuilding and ship repairing facilities in China, but also holds important position in the research and design of merchant ships, providing services in the sectors such as ocean, aerospace, hydro-power, metallurgy and petrochemical.