On October 12, Wang Yuetao, Chairman of the Board, Lu Lize, General Manager, and Jiang Ming, Vice General Manager of the company, visited the COSL Tianjin Industrial Park and held discussions with Zhao Shunqiang, Chairman of COSL, and Sun Weizhou, Vice President. The two parties jointly signed a cooperation framework agreement.

Zhao Shunqiang warmly welcomedthe visit of ZhenHua Oil's leaders and introduced the basic situation of COSL. He stated that the visit of ZhenHua Oil's top leaders demonstrated their recognition of COSL's services. COSL will treat ZhenHua Oil as a core client and commit to fully supporting its operations in the key Iraqi market.

Lu Lize noted that COSL's professional capabilities and tenacious work ethic have left a deep impression. The cooperation between the two parties has achieved several milestones, including drilling and completing the T8 layer, increasing mechanical drilling speed, ultra-long horizontal wells, and dual-branch wells, which have provided  strong support for the development of ZhenHua Oil's upstream projects. He hoped that based on the solid cooperation foundation, the two parties would further explore cooperation potential in the Iraqi market.

Wang Yuetao fully affirmed the achievements of the previous cooperation between the two parties and expressed gratitude for the high-quality services provided by COSL. He hoped that,  based on their respective needs , the two parties would further expand their cooperation, give full play to their respective advantages, share resources, and establish a long-term strategic cooperative relationship on the basis of equality, mutual benefit and common development. He also expressed hope that the signing of this framework agreement would serve as an opportunity to jointly promote international energy cooperation under the "Belt and Road" initiative.