The Stock Exchange of Hong Kong Limited Takes No Responsibility For
Total Page:16
File Type:pdf, Size:1020Kb
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Stock Code: 603) PIPED GAS CONCESSION RIGHT IN BAJITAN AGRICULTURAL PRODUCTS INDUSTRIAL PARK OF ZHANGYE ECONOMIC AND TECHNOLOGICAL DEVELOPMENT ZONE The board (the “Board”) of directors (the “Directors”) of China Oil And Gas Group Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that following the concession right agreement for the circle economy demonstrative park of Zhangye in 2016, on 7 April 2020, the Company through its subsidiary, 張掖中油燃氣有限 公司 (Zhangye China Oil And Gas Limited*) (“Zhangye China Oil And Gas”), entered into an exclusive concession right agreement (the “Exclusive Concession Right Agreement”) with the management committee of Zhangye Economic and Technological Development Zone (“Zhangye Development Zone Management Committee”) of The People’s Government of Ganzhou District, Zhangye City, Gansu Province, China, pursuant to which Zhangye Development Zone Management Committee has agreed to grant to Zhangye China Oil And Gas an exclusive concession right for a term of 30 years. Pursuant to the Exclusive Concession Right Agreement, the business scope of the exclusive concession right of Zhangye China Oil And Gas is supply and sales of gas, including pipelines supply of natural gas to customers, and the services of maintenance, operation, repair and rescue of related piped gas facilities, etc. within the current administrative region of Bajitan Agricultural Products Industrial Park of Zhangye Economic and Technological Development Zone (“Geographical Areas of Concession Right”). GENERAL The Group is principally engaged in natural gas investment and energy related business, and has invested and set up 141 gas projects in 16 different provinces and autonomous region in China and holds 71 city-gas exclusive concession rights. Zhangye Economic and Technological Development Zone, which is located at the north of the Zhangye City of Gansu Province, with a planned area of 152.84 square kilometers, has been approved to become a national development zone in China by Chinese State Council since 2013, has become an important platform of ecological industry and economic development of Zhangye City and Ganzhou District. The region has created 5 leading - 1 - industries of processing of agricultural by-products, new materials of colored metallurgy, biological pharmaceutical production, new energy and production of advanced equipment, and modern services, forming a developed structure of “One Zone Multi-Parks” with biological technological industrial park, circle economy demonstrative park, agricultural products industrial park, and coal industrial park. In recent years, the government of Zhangye region has treated protection of ecological environment, improvement of residential environment of citizens, and boost of image of the city as important development strategies, and has launched project of “Gasification of Zhangye”, which greatly encouraged the process of “Coal to Gas” in coal burning boiler and “Fuel to Gas” in vehicles. Grasping the opportunity of development, the Group further expands the gas market of Gansu by making use of the exclusive concession right of Zhangye Economic and Technological Development Zone, and continues to expand the coverage and usage of natural gas in Zhangye region by collective cooperation with regional government. Meanwhile, the Group will further develop its domestic gas market, strengthen and expand its market share of domestic gas business, so as to enhance the Group’s position in the domestic market. The Board considers that the Exclusive Concession Right Agreement is a major step forward to the gas market in China. By Order of the Board China Oil And Gas Group Limited Chan Yuen Ying, Stella Company Secretary Hong Kong, 7 April 2020 As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Xu Tie-liang (Chairman and Chief Executive Officer), Ms. Guan Yijun and Mr. Liu Chunsun; and three independent non-executive Directors, namely Mr. Li Yunlong, Mr. Wang Guangtian and Mr. Yang Jie. * for identification purposes only - 2 - .