China National Petroleum Corporation (CNPC) is the fourth largest company in the world in terms of revenue.
It is China's leading oil and gas production company and one of the main oil-related services suppliers in the world as well as an outstanding worldwide contractor in construction engineering.
CNPC has been present in Peru since 1993 in Blocks VII/VI of Talara, Piura, dedicated to the exploration and production of hydrocarbons. It is the only onshore operator which has achieved horizontal drilling, reaching a depth of 10,840 feet.
Subsequently, it acquired shares in Blocks 8 and 1AB, with which it was able to contribute to the energetic development of the country and get to know the Peruvian market more thoroughly, allowing its economic participation and presence in Peru to increase for the year 2014 through the acquisition of 100% of Block X and Block 58.
On the other hand, CNPC in Peru explores and produces compressed natural gas and oil with operations in Block 57 in partnership with Repsol, owning 46.16% of its shares.
The significance of CNPC's presence and success in Peru is not only to be expressed in financial and economic terms: it must also be taken into account that the outstanding achievements obtained in Peru promoted investment plans and projects in other countries, such as Venezuela and Ecuador, which subsequently spread to other regions, such as Africa and Central Asia, strengthening the presence of CNPC abroad and being present in 81 projects in 34 different countries around the world.