Sinopec International Exploration and Production (SIPC), a wholly-owned subsidiary of Sinopec Group, carries out external upstream oil & gas cooperation on behalf of Sinopec, is an integrated strategic business unit of Sinopec engaged in overseas oil & gas exploration and production investments and business operations as well as the sole professional company of Sinopec engaged in overseas upstream investments and operations. Founded in January 2001, headquartered in Beijing, SIPC exercises the mode of two-level management. The headquarters are the center of investment decision and production management, and regional companies perform the functions of supervision, management and service coordination as representative offices of the headquarters, and the national company is the executive center.