OREANDA-NEWS.  November 24, 2014. The delegation of senior management from Pioneer Natural Resources, as led by President and CEO Scott Douglas Sheffield, visited Sinochem Group in Beijing.

The visiting guests conducted in-depth communication with senior executives of Sinochem Group like Chairman Liu Deshu, President Cai Xiyou, Vice President Han Gensheng and Zhang Wei. Both sides also explored thoroughly matters concerning implementation progress of USA-based Wolfcamp project, work planning for the next year and expanded cooperation.

Chairman Liu Deshu hoped both sides continually to enhance communication for friendly consultation and cooperation, jointly propelling the progress of the highly promising Wolfcamp project in terms of geological research, engineering, cost and time schedule. Liu also emphasized that both sides were offered with huge cooperation space and potential for energy development in USA, since energy domain would stand out as key domain for the future investment of the group company as Sinochem Group now has formed a complete industrial chain from oil and gas exploration and development, refining and chemical, chemicals, to gas station and logistics storage for its energy-related business. Sheffield spoke highly of the sound cooperation between both sides and smooth progress of projects under the joint efforts. Sheffield also expressed great confidence of mutual cooperation and development prospects in the future.

Energy block, noted by President Cai Xiyou, as the key field for Sinochem Group’s development during its strategic transition, would provide sufficient chances for both sides to achieve bigger success of cooperation. President Cai and Mr. Sheffield explored together the development prospect of shale gas sector in USA and proposed suggestions on how to further improve the efficiency of Wolfcamp project.