Legal basis: Article 7 of the Regulations of People's Republic of China (PRC) on Foreign Cooperation in Exploitation of Onshore Petroleum Resources: China Petroleum and Natural Gas Group Company and China Petrochemical Group Company (hereinafter referred to as China Petroleum Company) are responsible for foreign cooperation in exploitation of onshore petroleum resources; To be responsible for the negotiation, signing and execution of contracts for cooperation with foreign enterprises in the exploitation of onshore petroleum resources; In areas where the State Council has approved foreign cooperation in the exploitation of onshore oil resources, it enjoys the exclusive right to cooperate with foreign enterprises in oil exploration, development and production.