PetroChina Co. Ltd. Contracts
Sample Business Contracts
Performance Contract - PetroChina Co. Ltd. and Baohe Liu
Employment Forms
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YEAR 2003 PERFORMANCE CONTRACT WITH VICE PRESIDENT OF
PETROCHINA COMPANY LIMITED
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<S> <C> <C>
Offeree: Name: LIU, Baohe Offeror: Name: CHEN, Geng Term of the Contract: January 1, 2003 to
December 31, 2003
Title: Vice President of PetroChina Company Title: President of PetroChina
Limited ("PetroChina") Date of Execution: January 18, 2003
</TABLE>
<TABLE>
<CAPTION>
INDICES KEY PERFORMANCE INDICES WEIGHT MEASUREMENT TARGET ACTUAL
(KPI) PERFORMANCE
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<S> <C> <C> <C> <C> <C>
Profits Indices Rate of return of the invested 20% % 8.38
capital of PetroChina (ROIC)
Net income of PetroChina (NI) 10% In million RMB 34,280
Total profit from exploration 20% In million RMB 45,680
and production companies
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Operating Indices Unit operating cost for oil and 15% USD/barrel-of-equivalent 4.29
gas (BOE)
Total quantity of crude oil 10% In thousand tons 103,000
produced
Rate of reserves replacement 15% % 102
Receivables of exploration 5% % Per Shiyoucaizi
and production businesses [2001] 311
Gap between the actual capital 5% % +/- 5
expenditure and budget for
exploration and production
businesses
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Indices to Be Put under Quality safety and environmental Accidents involving death Comprehensive
Control protection (exploration and < or = 0.05 persons/million man-hours; performance expressed
production businesses) Extraordinary quality accidents involving social in marks to be reduced
effects = 0; by 5 marks if exceeding
Extraordinary accidents involving environmental target of the index put
pollution < or = 5 under control.
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