Hu Guoqiang gave a warm welcome to the chairman of Sam Group and the delegation and introduced the background of Xinjiang Energy Group. He pointed out that as an energy enterprise in Xinjiang, the Group takes the responsibility to promote social and economic development in XinJiang. Currently, Xinjiang Energy Group is undergoing a critical period of focusing on its main responsibility, returning to its main business, reformation, and implementing projects. Under the context of ongoing reformation and development in state-owned enterprises, the Group aims to leverage respective resources advantages to establish close collaboration and maintain information sharing in areas such as energy development, utilization, and energy trade, in order to achieve mutual benefits.

The chairman of Sam Group indicated Xinjiang Energy Group and Sam Group are highly compatible across multiple business areas, particularly in oil and gas exploration and petroleum product trading; while there sectors present substantial opportunities for collaboration. Sam Group will combine the strategy of Xinjiang Energy Group and facilitate its high-quality development with the most professional technology and excellent management team.

After the conference, the oil and gas company, a subsidiary of Xinjiang Energy Group, signed a framework cooperation agreement with Sam Group. Two sides intent to establish a joint venture to conduct in-depth cooperation including oil and gas sales, trade, exploration, development and operation.