An exploration subsidiary of China National Petroleum Corp (CNPC), the country's largest oil company, has agreed to use energy-saving technology developed by a Beijing firm in order to slash costs.
According to the contract, Beijing Zhongtoujietian Co Ltd will help CNPC's BGP Ltd upgrade the energy-saving technology in its boilers and heating systems, and electricity and water consumption facilities in BGP's headquarters in Zhuozhou, in North China's Hebei Province.
The move is in line with the government's call to save energy as the country is experiencing a growing gap between energy demand and supply.
Zhongtoujietian, one of the prestigious environment protection companies in China, said its technology proves to be "applicable and effective," following an experiment at BGP's base last October.
The company said in a statement that, with decreased energy costs, BGP's investment could be recovered in three to four years.
The statement said the Zhuozhou project is expected to be a model for BGP, which could then be used across the whole company in three years.
"The project will have great economic and social benefits," it said.
China is calling for companies to spare no efforts to save energy, a move to try and stave off a looming energy-shortage.
Parts of the country have been suffering from power shortages since late last year due to insufficient power supply.
On the oil front, the country is expected to buy 40 percent of its consumption from foreign countries by 2010.
(China Daily April 30, 2003)
