Document:

Amended Buildings Leasing Contract, dated August 25, 2011

 Exhibit 4.15 
 English Translation of Chinese Original 
 Amended Buildings Leasing Contract

 By and between 
 China National Petroleum Corporation 
 (as lessor) 

And 

PetroChina Company Limited 
 (as lessee) 
  
  

 

 Amended Buildings Leasing Contract 

AMENDED BUILDINGS LEASING CONTRACT (the “Contract”) is entered into on this 25th day of August 2011 in Beijing, by and between China National
Petroleum Corporation (as lessor) (“Party A”), a state-owned enterprise incorporated and legally existing under the laws of the People’s Republic of China (the “PRC” or “China”), with its enterprise legal
person business license number being 100000000010438, and its registered address being at Liupukang, Xicheng District, Beijing; and PetroChina Company Limited (as lessee) (“Party B”), a company limited by shares incorporated and
legally existing under the laws of the PRC, with its enterprise legal person business license number being 100000000032522 and its registered address being at 16 Andelu, Dongcheng District, Beijing. 

Whereas: 

(A) Party A and Party B entered into a Building Leasing Contract (the “Original Contract”) on March 10, 2000, under which,
Party B starting from November 5, 1999, leased certain buildings with a total construction area of 279,770 square meters owned by Party A (including both Party A and its subsidiary or controlled companies, enterprises or units); 

(B) Party A and Party B further entered into a Supplemental Buildings Leasing Agreement (the “Supplemental Agreement”) on
September 26, 2002 under which, Party B starting from January 1, 2003, leased from Party A additional buildings with a total construction area of 442,730 square meters for the purpose of the operation and business of Party B; and

 (C) In response to the current development of the business operation of Party B and market changes, Party A and Party B have
agreed to make corresponding amendments and supplements to the lease of the relevant buildings on the basis of the provisions in the Original Contract and the Supplemental Agreement. 

NOW, THEREFORE, pursuant to the Law of the People’s Republic of China on Urban Real Estate Administration and the Contract
Law of the People’s Republic of China and other applicable laws and regulations, Party A and Party B hereby reach agreement as follows in respect of Party B’s lease of the relevant buildings from Party A: 

Article 1    Preconditions 
  

	1.	Considering the fact that the buildings subject to this Contract are owned by Party A or its owned or controlled companies, enterprises or units, and Party A’s
owned or controlled companies, enterprises and other entities have entrusted Party A to exercise the right to lease such buildings, Party A agrees to lease to Party B (including both Party B and its owned companies or units; meaning the same below),
and Party B agrees to lease from Party A, such buildings under this Contract. 

 Article
2    Scope, Use and Disposal of Buildings 
  

	2.1	The buildings leased under this Contract refer to the buildings owned by Party A or its owned or controlled companies, enterprises or units, with a total construction
area of 734,316 square meters (the “Buildings” or “Building” as the context requires), as set forth in detail in the Buildings Schedule attached hereto as Appendix 1. 

 

	2.2	Party A and Party B have agreed that the area of the Buildings may be adjusted accordingly at an interval of approximately three years in response to the actual
development of the business operation of Party B. 

  
 1 

	2.3	Each of Party A’s owned or controlled enterprises that possess any Buildings shall, strictly in accordance with the terms and conditions in this Contract, enter
into a specific building leasing contract (the “Specific Contract”) with Party B in respect of any one or more Buildings owned by it. In case of any conflict between any Specific Contract and this Contract, this Contract shall prevail.

  

	2.4	Party B shall use the Buildings in accordance with the provisions in the relevant Specific Contracts and subject itself to the supervision of Party A. If Party B
intends to change the use of any Buildings, it shall obtain Party A’s prior consent thereto. 

  

	2.5	Party B shall not alter the main structures of any Building without Party A’s consent. 

 

	2.6	If the lease term of any Building is not extended upon expiration, Party B shall promptly and fully return such Building to Party A. 

 

	2.7	During the term of this Contract, if any owner of any Building transfers the ownership of such Building to a third party, this Contract shall also be binding upon such
third party. 

 Article 3    Term 

 

	3.1	The lease term (the “Term”) of the Buildings under this Contract shall be up to 20 years and shall expire on November 4, 2019; provided, however, that
during the Term, the parties hereto may negotiate for the extension of the lease term of any specific Building in light of the actual needs and circumstances. 

 

	3.2	If Party B intends to extend the Term, it shall give a written notice to Party A at least six months prior to the expiration of the Term. 

 

	3.3	Following its receipt of Party B’s notice delivered under Article 3.2 above, Party A shall, before the expiration of the Term, give its consent to the proposed
extension and conclude a new lease contract with Party B, and shall complete all the necessary approval formalities relating to the extension of the Term with relevant governmental authorities. The rate of the rent for the renewed lease shall be
determined in accordance with the relevant standards prescribed by the relevant governmental authorities or (when there is no such standards) the then prevailing market price. 

 

	3.4	The parties hereto agree that, Party B shall have the right to terminate the lease for all or any part of the Buildings at any time before the expiration of the Term;
provided, that Party B shall give a written notice to Party A six months prior to the proposed termination date. 

Article 4    Rent and Taxes 
  

	4.1	Party B shall pay rent to Party A on an annual basis at the rate of RMB1,049(in word: One Thousand and Forty-Nine Renminbi Yuan)/square meter per year.

  

	4.2	The parties hereto agree that the rate of rent may be adjusted appropriately at an interval of approximately three years in response to the actual operational status of
Party B and changes in market price; provided, however, that the rate of rent so adjusted may not exceed the comparable fair market price. 

  

	4.3	Party A shall, during the Term, be obligated to complete the formalities for the payment of property tax and other statutory taxes and fees relating to the Buildings.
The aforesaid taxes and fees shall be actually borne by Party B; provided, however, that subject to relevant tax laws and regulations, Party B may pay such taxes and fees by itself or through Party A as its agent. 

 

	4.4	During the Term, Party B shall be responsible for the charges of water, electricity, heating, and repairs and other relevant expenses incurred in the use of the
Buildings, which shall be in addition to rent. 

  
 2 

 Article 5    Implementation of the Contract 

 

	5.	The parties hereto shall, before November 30 of each year during the Term, prepare their respective rent allocation plans, reach agreement thereon and distribute
such agreed plans among their respective entities. In the preparation of such plan, Party A may, in light of the different conditions and locations of the different Buildings, make internal adjustments to the rate of rent of the specific Buildings.
Party A shall make such plan available to Party B by November 30 each year. 

 Article
6    Rights and Obligations of the Parties 
  

	6.1	Rights of Party A: 

  

	 	(a)	Party A shall have the right to collect the rent payment in accordance with this Contract; 

 

	 	(b)	Party A shall have the right to supervise Party B’s use of the Buildings; 

 

	 	(c)	Party A shall be entitled to claim compensation against Party B for any damage to the Buildings caused by Party B during the Term; and 

 

	 	(d)	Any other rights available to Party A under this Contract. 

  

	6.2	Obligations of Party A: 

  

	 	(a)	Party A shall ensure the legality of the title owners of the Buildings and the legality of the lease of the Buildings under this Contract. Party A shall also ensure
that none of the Buildings is subject to any mortgage or any other third party right. Party A shall take all necessary actions to maintain the compliance of all the Buildings leased hereunder with relevant laws and regulations governing the lease of
such Buildings throughout the Term. Party A shall indemnify Party B against any damages or losses suffered by Party B as a result of Party A’s failure to do so; 

 

	 	(b)	Party A shall promptly provide necessary assistance to Party B at Party B’s reasonable request in respect of the Buildings; 

 

	 	(c)	Party A shall ensure that Party B’s normal use of the Buildings will not be affected by Party A’s actions or non-actions; 

 

	 	(d)	Party A shall register this Contract with relevant governmental authorities; and 

 

	 	(e)	Party A shall not take back the Buildings before the expiration of the Term, unless otherwise provided for in this Contract. 

 

	6.3	Rights of Party B: 

  

	 	(a)	Party B shall have the right to use the Buildings in accordance with the principles set forth in each Specific Contract and this Contract; 

 

	 	(b)	In response to the needs of its business operation and with consent of Party A, Party B may make alteration and addition to the Buildings, which shall be owned by Party
B; 

  

	 	(c)	Party B may sublease the Buildings subject to Party A’s consent; and 

  

	 	(d)	Party B may terminate the lease of any Building upon a 6 month prior written notice to Party A. 

 

	6.4	Responsibilities of Party B: 

  

	 	(a)	Party B shall use the Buildings in accordance with relevant laws and regulations; 

 

	 	(b)	Party B shall pay the rent in accordance with this Contract. 

  
 3 

 Article 7    Further Assurance 

 

	7.	The parties hereto have the obligation to take any further action, including executing other relevant agreements, contracts or documents, necessary to ensure the
effectuation of the objectives of and the provisions in this Contract. 

 Article
8    Amendment and Termination of the Contract 
  

	8.1	Any amendment to this Contract shall not become effective unless it is agreed to by the parties and made in writing. For the avoidance of doubt, if Party B requests in
accordance with this Contract an extension or premature termination of the lease of any Building, the terms and provisions herein shall apply. 

  

	8.2	This Contract may be terminated upon occurrence of any of the following events: 

 

	 	(a)	The Term of this Contract expires; or 

  

	 	(b)	The parties hereto reach agreement on the termination of this Contract before the expiration of the Term; or 

 

	 	(c)	As a result of an event of force majeure, such as earthquake, windstorm, fire, flood and war, either party hereto is rendered unable to continue to perform its
obligations under this Contract; or 

  

	 	(d)	Any applicable law or regulation requires the termination of this Contract, or a competent court or arbitral body adjudicated, ruled or ordered the termination of this
Contract. 

 Article 9    Liabilities for Breach of Contract and Damages 

 

	9.	In the event of any breach of this Contract by either party hereto, the non-breaching party may request or take remedial measures permitted hereunder or under
applicable laws, including without limitation, actual performance and compensation for economic losses resulting from such breach. 

 Article 10    Representations and Warranties 
  

	10.1	Party A represents and warrants as follows: 

  

	 	(a)	Party A is a duly established enterprise with the status of an independent legal person and holds a valid business license; 

 

	 	(b)	Party A has carried out its business in accordance with law and has never engaged in any activities beyond the business scope prescribed by law;

  

	 	(c)	Party A has obtained all governmental approvals (if necessary) and has obtained or completed all internal authorizations necessary for the execution of this Contract;
the person signing this Contract on its behalf is a duly authorized representative of Party A; and this Contract, when executed, shall constitute binding obligations of Party A; and 

 

	 	(d)	The execution of this Contract and the performance of its obligations hereunder by Party A will not violate any other agreements to which the Party A is a party, Party
A’s Articles of Association or any laws, regulations and rules. 

  

	10.2	Party B represents and warrants as follows: 

  

	 	(a)	Party B is a duly established company limited by shares with the status of an independent legal person and holds a valid business license; 

  
 4 

	 	(b)	Party B has carried out its business in accordance with law and has never engaged in any activities beyond the business scope prescribed by law;

  

	 	(c)	Party B has obtained or completed all the internal authorizations necessary for the execution of this Contract; the person signing this Contract on behalf of Party B is
a duly authorized representative of Party B and this Contract, when executed, shall constitute the binding obligations of Party B; and 

  

	 	(d)	The execution of this Contract and the performance of the obligations hereunder by Party B do not and will not violate any other agreements to which Party B is a party,
Party B’s articles of association or any laws, regulations and rules. 

 Article
11    Force Majeure 
  

	11.1	If a party hereto fails to perform all or part of its obligations under this Contract due to an Event of Force Majeure (an “Event of Force Majeure” means an
event beyond reasonable control of the affected party which is unforeseeable, or unavoidable and insurmountable if foreseen, and which happens after the execution of this Contract and renders the full or partial performance of this Contract
impossible or impracticable in effect. An Event of Force Majeure includes but not limited to flood, fire, draught, typhoon, earthquake, and other natural disasters, traffic accident, strike, insurrection, turmoil and war (whether declared or not)
and any action or inaction of any governmental authorities), the performance of such obligations shall be suspended during the period in which the performance is prevented by the Event of Force Majeure. 

 

	11.2	The party claiming the effect of an Event of Force Majeure shall notify the other party in writing of the occurrence of such event as soon as possible, and shall,
within 15 days after the occurrence of such event, provide the other party in person or by registered mail with appropriate evidence in support of the occurrence of the Event of Force Majeure and the period of time it lasts. The party claiming that
its performance of this Contract has become impossible or impracticable due to an Event of Force Majeure shall take all reasonable efforts to eliminate or minimize the effect of the Event of Force Majeure. 

 

	11.3	In case of an Event of Force Majeure, the parties shall immediately consult with each other in respect of the performance of this Contract and shall immediately resume
their respective obligations under this Contract upon the ending or elimination of the Event of Force Majeure. In the event that either party to this Contract becomes unable to continue the performance of its obligations herein due to an Event of
Force Majeure, Article 8.2(c) in respect of the termination of this Contract shall apply. 

 Article
12    Miscellaneous 
  

	12.1	Unless otherwise provided for in this Contract, without the written consent of the other party, neither party may transfer all or part of its rights and obligations
under this Contract. 

  

	12.2	This Contract and the appendices attached hereto constitute the entire agreement between the parties, and supersede all previous oral and written agreements, contracts,
understandings and communications of the parties in respect of the subject matter of this Contract. 

  

	12.3	Any provision hereof that becomes illegal, invalid or unenforceable shall not affect the validity and enforceability of any other provisions of this Contract.

  

	12.4	Any amendments to this Contract or its appendices may be made only by a written agreement executed by authorized representatives of each of the parties and shall be
approved by both parties through appropriate corporate actions. 

  
 5 

	12.5	Unless otherwise agreed by the parties hereto, any delay or failure on the part of any party hereto to exercise any right, power or privilege under this Contract shall
not operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude the exercise of any other right, power or privilege. 

 

	12.6	The appendices attached hereto constitute an integral part of this Contract and have the same binding effect on the parties hereto as if the appendixes had been
incorporated into this Contract. 

 Article 13    Notice 

 

	13.1	Notices and other communications required to be given by any party pursuant to this Contract shall be written in Chinese and may be sent in person, or by registered
mail to the address of the other party or sent by facsimile transmission to the number of the other party set forth below. The date on which a notice shall be deemed to have been effectively given shall be determined as follows:

  

	 	(a)	A notice sent in person shall be deemed duly given on the date of personal delivery; 

 

	 	(b)	A notice sent by registered mail shall be deemed duly given on the seventh day (if the last day falls on a Sunday or a public holiday, then such date shall be postponed
to the next business day) following the delivery of such notice to the postal service (as indicated by the postmark); 

  

	 	(c)	A notice sent by facsimile shall be deemed duly given upon the completion of transmission; provided, however, that the party sending the notice shall produce the
transmission report printed out by the facsimile machine on which such notice is transmitted in order to prove the successful transmission of such notice to the other party. 

The telephone numbers and facsimile numbers of the parties are as follows: 

China National Petroleum Corporation 
 Telephone Number: 010-5998 4815 
 Facsimile Number: 010-6209 9252 

PetroChina Company Limited 
 Telephone Number: 010-5998 6135 
 Facsimile Number: 010-6209 9428 

A party shall notify the other party in accordance with the terms hereof of any changes to its address or facsimile number set forth above
as soon as possible. 
 Article 14    Governing Law and Dispute Resolution 

 

	14.1	This Contract shall be governed by and construed in accordance with the laws of the PRC. 

 

	14.2	Any dispute arising from or in connection with this Contract shall be settled through friendly consultations between the parties. Where any dispute fails to be settled
through such consultations, either Party A or Party B may refer such dispute to the Beijing Arbitration Commission for resolution through arbitration in accordance with the then effective rules of arbitration of the Beijing Arbitration Commission.
An arbitral award shall be final and binding upon both Parties. 

 Article
15    Miscellaneous 
  

	15.1	This Contract shall be written in Chinese. 

  

	15.2	This Contract shall be executed in six originals. This Contract shall come into effect upon being executed and chopped by the authorized representatives of both parties
and its effectiveness shall retroactively commence as of 5 November 1999. Each original shall have the equal force and effect. 

  

	15.3	The Original Contract and the Supplemental Agreement shall cease to be effective as from the date of this Contract. 

  
 6 

			
	 Party A
	  	Party B
		
	 China National Petroleum Corporation
	  	PetroChina Company Limited
		
	 /s/
	  	/s/
	 Authorized Representative
	  	Authorized Representative

 Appendix 1 
 Buildings Schedule 
  

											
	 No.
	  	 Segments
	  	Building Area
(m2)	 	  	Estimated Annual Rent
for
2011
(in RMB10,000)
(The actual rent shall
be the amount agreed
in the executed
Buildings
Leasing
Contract)	 
	1	  	Oil and gas companies	  	 	145,313.44	  	  	 	15,793.53	  
		  	Changqing Oilfield Company	  	 	259.20	  	  	 	7,588.92	  
		  	Xinjiang Oilfield Company	  	 	11,722.18	  	  	 	330.88	  
		  	Southwest Oil and Gas Company	  	 	93,597.14	  	  	 	7,576.41	  
		  	Dagang Oilfield Company	  	 	35,730.92	  	  	 	238.86	  
		  	North China Oilfield Company	  	 	4,004.00	  	  	 	58.46	  
	2	  	Refineries	  	 	368,788.84	  	  	 	31,421.64	  
		  	Daqing Petrochemical Company	  	 	26,482.00	  	  	 	21,068.31	  
		  	Jilin Petrochemical Company	  	 	11,823.01	  	  	 	303.98	  
		  	Fushun Petrochemical Company	  	 	48,190.09	  	  	 	630.29	  
		  	Urumqi Petrochemical Company	  	 	1,036.00	  	  	 	15.13	  
		  	Dalian Petrochemical Company	  	 	37,734.00	  	  	 	518.01	  
		  	Jinxi Petrochemical Company	  	 	23,602.47	  	  	 	180.56	  
		  	Daqing Refinery Company	  	 	20,723.88	  	  	 	665.65	  
		  	Changqing Petrochemical Company	  	 	178,808.24	  	  	 	7,675.06	  
		  	Kelamayi Petrochemical Company	  	 	7,679.00	  	  	 	28.03	  
		  	Northeast Refinery Company	  	 	12,710.15	  	  	 	336.62	  
	3	  	Marketing Companies	  	 	21,050.51	  	  	 	4,268.51	  
		  	Sichuan Marketing Company	  	 	3,664.00	  	  	 	89.60	  
		  	Shanghai Marketing Company	  	 	13,505.01	  	  	 	2,199.48	  
		  	Shandong Marketing Company	  	 	1,940.75	  	  	 	1,745.73	  
		  	PetroChina Fuel Oil Company Limited	  	 	1,940.75	  	  	 	233.70	  
	4	  	Natural Gas & Pipeline Companies	  	 	148,116.11	  	  	 	5,741.47	  
		  	PetroChina Oil & Gas Pipeline Control Center	  	 	2,450.00	  	  	 	178.85	  
		  	PetroChina Natural Gas & Pipeline Company	  	 	132,597.57	  	  	 	3002.81	  
		  	PetroChina West East Gas Pipeline Company (PetroChina West East Gas Marketing Company)	  	 	15,518.54	  	  	 	2559.81	  
	5	  	Others	  	 	48,597.00	  	  	 	19,800.00	  
		  	PetroChina Co., Ltd.	  	 	26,620.00	  	  	 	16200.00	  
		  	Guangzhou PetroChina Building	  	 	21,977.00	  	  	 	3600.00	  
	Total	  		  	 	734,315.89	  	  	 	77,025.14Equity Transfer Agreement, dated October 27, 2011

Table of Contents

 Exhibit 4.16 
 English Translation of Chinese Original 
 Equity Transfer Agreement

 For the Transfer of the Equity in South Oil Exploration and Development Co., Ltd. 

By and between 
 CNPC Exploration and Development Company Limited 
 CNPC Central Asia
Petroleum Company Limited 
 and 
 PetroChina Company Limited 
  
  

 

  
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Table of Contents

 table of contents 

 

							
	 Article 1
	  	Definitions	  	 	3	  
			
	 Article 2
	  	Subject Interest	  	 	4	  
			
	 Article 3
	  	Consideration for Transfer of Subject Interest	  	 	4	  
			
	 Article 4
	  	Conditions Precedent to Closing of the Transfer	  	 	5	  
			
	 Article 5
	  	Delivery of the Subject Interest	  	 	5	  
			
	 Article 6
	  	Gain/Loss Arising in the Transition Period	  	 	6	  
			
	 Article 7
	  	Representations, Warranties and Covenants of the Transferor	  	 	6	  
			
	 Article 8
	  	Representations, Warranties and Covenants of the Transferee	  	 	7	  
			
	 Article 9
	  	Obligations of the Transferor	  	 	7	  
			
	 Article 10
	  	Obligations of the Transferee	  	 	7	  
			
	 Article 11
	  	Taxes	  	 	7	  
			
	 Article 12
	  	Default Liabilities	  	 	7	  
			
	 Article 13
	  	Confidentiality	  	 	8	  
			
	 Article 14
	  	Effectiveness, Amendments, Rescission, Termination and Assignment	  	 	8	  
			
	 Article 15
	  	Force Majeure	  	 	8	  
			
	 Article 16
	  	Notices	  	 	9	  
			
	 Article 17
	  	Governing Law and Dispute Resolution	  	 	9	  
			
	 Article 18
	  	Miscellaneous	  	 	9	  

  
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Table of Contents

 Equity Transfer Agreement 

This Equity Transfer Agreement (this “Agreement”) is entered into this [27th] day of [October] 2011 in Beijing by and between the following
parties: 
 Transferors: 
 CNPC Exploration and Development Company Limited (“CNPC E&D”) 

Business License No.: 110000008052740 
 Registered Address: D International Investment Building, 6 Fuchengmen North Street, Xicheng District, Beijing 
 Legal Representative: SUN Longde 
 CNPC Central Asia Petroleum Company Limited
(“CNPC Central Asia”) 
 Business License No.: 110000005197667 

Registered Address: 1 Qingnianhu South Street, Dongcheng District, Beijing 

Legal Representative: XIE Shiyao 
 CNPC E&D and CNPC Central Asia hereinafter are collectively referred to as the Transferors. 
 Transferee: 
 PetroChina Company Limited 

Business License No.: 1000001003252 
 Registered Address: World Tower, 16 Andelu, Dongcheng District, Beijing 
 Legal
Representative: JIANG Jiemin 
 Whereas, 
  

	 	(i)	CNPC E&D is a limited liability company duly established and validly existing under the laws of the PRC and legally owns 95% equity interest in South Oil
Exploration and Development Co., Ltd. (“Southern Company”); 

  

	 	(ii)	CNPC Central Asia is a limited liability company duly established and validly existing under the laws of the PRC and legally owns 5% equity interest in Southern
Company; 

  

	 	(iii)	Subject to the conditions and terms of this Agreement, the Transferor desire to transfer to the Transferee, and the Transferee desires to purchase from the Transferor,
100% equity interest in Southern Company. 

 NOW, THEREFORE, in accordance with the Company Law of the
People’s Republic of China, the Contract Law of the People’s Republic of China, and other applicable laws and regulations, the Transferor and the Transferee, after friendly negotiations, hereby reach agreement as follows with respect
to the transfer of the Subject Interest (as defined below) for mutual observance: 
 Article
1    Definitions 
  

	 “CNPC E&D” 
	shall mean CNPC Exploration and Development Company Limited, holding 95% equity interest in Southern Company. 

 

	 “CNPC Central Asia” 
	Shall mean CNPC Central Asia Petroleum Company Limited. 

  

	 “Southern Company” or “Target Company” 
	shall mean South Oil Exploration and Development Co., Ltd. 

  
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Table of Contents

	 “Subject Interest” 
	shall mean the target of the Transfer as further set forth in Article 2 hereof. 

  

	 “Transfer” 
	shall mean the transfer of the Subject Interest from the Transferor to the Transferee. 

  

	 “Appraisal Report” 
	shall mean the Assets Appraisal Report (Zhong Zi Ping Bao Zi(2011) No. 133) issued by China Asset Appraisal Co., Ltd. with respect to the assets and liabilities of the Subject
Interest as of the Reference Date for the purpose of the Transfer. 

  

	 “Reference Date” 
	shall mean April 30, 2011. 

  

	 “Transition Period” 
	shall mean the period from the Reference Date up to and including the Closing Date. 

  

	 “Supplemental Audit” 
	shall mean a special audit conducted by an auditor engaged by the parties hereto on the changes in the value of the Subject Interest from the Reference Date to the reference date of the
Supplemental Audit for the purpose of determining any gain or loss occurred during the Transition Period. 

  

	 “Closing” 
	shall mean the delivery of the Subject Interest in accordance with Article 5 hereof. 

  

	 “Closing Date” 
	shall mean the date on which the Closing shall occur as agreed by and among the parties hereto after the satisfaction of all the conditions precedent to the Closing set forth in Article 4
hereof. 

  

	 “SASAC” 
	shall mean the State-owned Asset Supervision and Administration Commission of the State Council. 

  

	 “PRC” or “China” 
	shall mean the People’s Republic of China, but for purposes of this Agreement, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan.

 Article 2    Subject Interest 

The Subject Interest shall refer to the 100% equity interest in Southern Company owned by the Transferors, i.e., CNPC E&D and CNPC
Central Asia. 
 Article 3    Consideration for Transfer of Subject Interest 

The parties hereto agree and acknowledge that the consideration for the Transfer of the Subject Interest shall be RMB
1,666.3818 million, as determined by reference to the asset appraisal results set forth in the Appraisal Report prepared as of the Reference Date, which includes RMB 1,583.0627 million for the Transfer of the 95% equity interest held by
CNPC E&D and RMB 83.3191 million for the Transfer of the 5% equity interest held by CNPC Central Asia. However, such consideration will be adjusted by reference to the final appraised value filed with SASAC or its authorized local branches.

  
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Table of Contents

 Article 4    Conditions Precedent to Closing of the
Transfer 
  

	 	4.1	The Closing hereunder shall occur on the Closing Date agreed between the parties hereto following the satisfaction of all the conditions precedent to the Closing:

  

	 	(1)	This Agreement has been duly signed by the legal representatives of the Transferor and the Transferee or their respective authorized representative;

  

	 	(2)	All necessary consents or approvals in connection with this Agreement and the Subject Interest have been obtained, including without limitation:

  

	 	(A)	the Transferor has obtained approval from its respective internal governing bodies in respect of the Transfer; 

 

	 	(B)	the Transferee has obtained approval from its respective internal authorities in respect of the Transfer; 

 

	 	(C)	the Transfer has been approved by the shareholders of the Target Company; 

  

	 	(D)	creditors and any other relevant third parties have given the Transferor all the necessary consents in respect of the delivery of the Subject Interest;

  

	 	(E)	the Appraisal Report, being the pricing basis of the Transfer, has been confirmed by the Transferor and the Transferee and filed with SASAC or its authorized local
branches; and 

  

	 	(F)	the Transfer, to take place by way of transfer by agreement, has been approved by SASAC or its authorized local branches. 

 

	 	(3)	all the representations, warranties and covenants made by the parties hereto in this Agreement shall remain true and accurate as at the Closing Date.

  

	 	4.2	The parties hereto shall make efforts to cooperate with each other friendly to ensure that all the conditions precedent set forth above will be satisfied as soon as
practicable and shall make all reasonable efforts to cause the Transfer to be completed by December 
31, 2011. 

 Article 5    Delivery of the Subject Interest 

 

	 	5.1	The Transferor shall, within a reasonable period, actively procure the fulfillment of all the Closing conditions set forth in Article 4 (other than 4.1.(2).(B)), and
give a notice to the Transferee in writing requesting Closing to be conducted and shall furnish copies of the documents/proof evidencing fulfillment of the Closing conditions and the proposed Closing Date. 

 

	 	5.2	If the Transferee determines that all the Closing conditions have been fulfilled, it shall, within five (5) business days following receipt of the notice referred
to in Article 5.1, issue a letter to CNPC E&D and CNPC Central Asia in writing indicating its agreement to the Closing as well as the Closing Date proposed by the Transferor. 

 

	 	5.3	At the Closing Date, the Transferee shall pay the consideration in full to the bank accounts designated by each of CNPC E&D and CNPC Central Asia in a lump sum.

  

	 	5.4	At the Closing Date, the Transferor shall deliver to the Transferee the investment certificate issued by the Target Company or the amended shareholder register, and
shall cause and assist the Target Company to carry out the registration of changes to the Subject Interest with the competent administration for industry and commerce. 

 

	 	5.5	At the Closing Date, the Transferor shall deliver to the Transferee or the Target Company, all the materials relating to the Target Company in their possession,
including without limitation, asset lists, financial statements, and files relating to the Target Company. 

  
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	 	5.6	As from the Closing Date, the Transferee shall obtain the Subject Interest, together with all the interest accrued thereon in accordance with applicable PRC laws, and
enjoy and assume the corresponding rights and obligations under applicable laws and regulations and articles of association of the Target Company. 

 Article 6    Gain/Loss Arising in the Transition Period 
 The parties hereto agree and acknowledge that subject to the terms and conditions hereunder any gain/loss arising in the Transition Period shall be enjoyed and assumed by the Transferor. Subject to the
terms and conditions of this Agreement, any gain/loss of the Target Company arising in the Transition Period shall be enjoyed or borne by the Transferor. The parties hereto agree that in the event of a loss during such period the Transferee shall
reduce the consideration by an amount equal to such loss, and on the contrary in the event of a profit during such period, the Transferee shall increase the consideration by an amount equal to such loss. The actual amount of gain/loss shall be
determined by the parties hereto by reference to the results of the Supplemental Audit. 
 Article
7    Representations, Warranties and Covenants of the Transferor 
  

	 	7.1	The Transferor is a limited liability company duly established and validly existing under the laws of the PRC. The Transferor legally owns the Subject Interest and has
the right to transfer the Subject Interest to the Transferee in accordance with this Agreement. 

  

	 	7.2	The Transferor warrants that it has not, whether directly or indirectly, created any pledge, third party interest or any other restriction of right on the Subject
Interest. 

  

	 	7.3	The execution and performance of this Agreement by the Transferordo not violate any contracts or agreements to which the Transferor is legally bound by.

  

	 	7.4	The execution and performance of this Agreement by the Transferor does not violate any applicable laws or regulations, or the articles of association or other
constitutional documents of the Transferor. 

  

	 	7.5	The Transferor undertakes to make efforts to cooperate, and cause the Target Company to cooperate with the Transferee in the completion of any and all legal or
administrative procedures in connection with the Transfer hereunder, including without limitation, industrial and commercial registration of the relevant changes. 

 

	 	7.6	The Transferor hereby makes the following representations, warranties and covenants to the Transferee with respect to the Target Company: 

 

	 	(1)	The Target Company is duly established and validly existing as an independent legal person under the laws of the PRC; 

 

	 	(2)	The Target Company is not in violation of any currently effective PRC laws, regulations or rules, and has duly completed the procedures for the registration, annual
review or annual audit of all the relevant permits, licenses and approvals as required by competent governmental authorities, including without limitation, competent industrial and commercial administrative authorities, tax authorities, and customs
authorities, and has obtained all the qualifications for the conduct of its business; 

  

	 	(3)	Except as disclosed to the Transferee, the Target Company has the legal ownership and use right to its assets as evidenced by all the necessary certificates and
instruments without any flaw, free from any security interest or any other encumbrance or third party interest; 

  

	 	(4)	The Target Company does not have any material litigations, claims, arbitration, administrative proceedings or other legal proceedings, whether pending or threatening,
or any contingent liabilities in any other form. The Target Company has paid in full all the taxes due and payable or prior to the date hereof, and shall guarantee that it shall pay in full all the taxes due and payable from the date hereof to the
Closing Date; 

  
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	 	(5)	From the date hereof to the Closing Date, the Target Company shall not declare or pay in any form any dividends, bonuses or distributions to any of its shareholders or
any other person; 

  

	 	(6)	All the financial and operational information relating to the Target Company furnished by the Transferor and the Target Company are true, accurate and complete; and

  

	 	(7)	The Transferor has fully paid up the capital contribution to the Target Company subscribed for by it. 

Article 8    Representations, Warranties and Covenants of the Transferee 

 

	 	8.1	The Transferee is a company limited by shares duly established and validly existing under the laws of the PRC. 

 

	 	8.2	The execution and performance of this Agreement by the Transferee do not violate any contracts or agreements by which the Transferee is legally bound.

  

	 	8.3	The execution and performance of this Agreement by the Transferee do not violate any applicable laws or regulations, or the articles of association or other
constitutional documents of the Transferee. 

 Article 9    Obligations of the
Transferor 
  

	 	9.1	The Transferor shall apply to SASAC or its authorized local branches for its approval to the Transfer of the Subject Interest by way of transfer by agreement and
arrange for the appraisal results to be filed with SASAC or its authorized local branches. 

  

	 	9.2	The Transferor shall cause Southern Company to carry out the industrial and commercial registration of the amendments to the shareholder register and articles of
association of the Target Company. 

 Article 10    Obligations of the
Transferee 
  

	 	10.1	The Transferee shall assist the Transferor to complete all the applications for, filings of and industrial and commercial registration of changes in connection with the
Transfer. 

  

	 	10.2	The Transferee shall pay the consideration for the Transfer to the Transferor on a timely basis in accordance with relevant provisions hereof. 

Article 11    Taxes 
 The taxes and charges incurred in connection with the Transfer shall be assumed by the parties hereto in accordance with the applicable laws and regulations. 

Article 12    Default Liabilities 

 

	 	12.1	After this Agreement takes effect, if any party hereto fails to fulfill any of its other obligations hereunder in accordance with the terms hereof, or any
representations or warranties contained herein made by such party hereto is false, such party shall be deemed to be in default. The defaulting party shall indemnify the non-defaulting party against any and all losses suffered by the non-defaulting
party as a result of the above default. 

  

	 	12.2	After this Agreement takes effect, if the Transferor fails to transfer any Subject Interest in accordance with the terms hereof, the Transferee shall have the right to
terminate this Agreement. In addition, the Transferor shall be liable for indemnifying the Transferee against any expenses and losses actually incurred by the Transferee as a result of the above failure, including without limitation, any and all
related expenses incurred in connection with the Transferee’s purchase of the Subject Interest. 

  
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 Article 13    Confidentiality 

All the parties hereto shall treat any and all details regarding this Agreement and the Transfer of the Subject Interest, the relationship
among the parties hereto and the documents furnished to each other hereunder as confidential information (the “Confidential Information”). Without prior written consent of the other party, any party hereto may not disclose the
Confidential Information to any person other than the parties hereto, except for any disclosure to relevant advisors or regulatory bodies or as required by the listing rules of the jurisdiction in which it is listed. 

This Article shall survive the expiration or any termination of this Agreement for any reason. 

Article 14    Effectiveness, Amendments, Rescission, Termination and Assignment 

 

	 	14.1	Effectiveness 

 This Agreement
has been executed by the authorized representatives of the parties hereto on the date first written above and shall officially come into effect upon the satisfaction of all the following conditions: 

 

	 	(1)	this Agreement has been authorized/approved by the competent internal governing bodies of the Transferor and the Transferee; and 

 

	 	(2)	the Transfer by way of transfer by agreement as contemplated hereunder has been approved by SASAC or its authorized local branches. 

 

	 	14.2	Amendments and Rescission 

After execution, this Agreement may not be amended or rescinded by any party without prior written consent from the other parties.

  

	 	14.3	Termination 

 At any time prior
to the consummation of the Closing, this Agreement may be terminated as follows: 
  

	 	(a)	by mutual agreement among the parties hereto; or 

  

	 	(b)	by the Transferee at its own discretion, without any liability, in case the Transferee is aware of any event that may have an adverse effect on the Subject Interest or
the Transferee or any representation, warranty or covenant made by the Transferor has any omission or is misleading, incomplete or accurate. 

  

	 	14.4	No Assignment 

 Without the
written consent of the other parties, any party hereto may not transfer any of its rights or obligations hereunder to any third party. 
 
Article 15    Force Majeure 
 If any party has been prevented from performing all or part of its
obligations provided in this Agreement because of an event of Force Majeure, including earthquake, typhoon, flood, fire, war and any governmental interference, or change of circumstances, it shall promptly notify the other party in writing, and
shall provide the other party with details of the event of force majeure or change of circumstances, as well as valid evidence supporting its inability to perform all or part of its obligations hereunder or the reasons for the extension of the term
for performance within seven (7) days following the occurrence of such event. The parties shall negotiate to terminate this Agreement, partially release or extend the term of the performance of the affected obligations as necessary, based on
the extent of the effect of such event on the performance of this Agreement. 

  
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 Article 16    Notices 

 

	 	16.1	Notices given hereunder shall be in writing and sent by facsimile, email, personal delivery or mail. Any such notice shall be sent to the addressee at the following
address, and shall contain sufficient statements and/or details indicating that it relates to the subject matters of this Agreement. 

 The contact information of the parties hereto is as follows: 
 The Transferors:

 CNPC Exploration and Development Company Limited 

 

			
	 Address:
	  	D International Investment Building, 6 Fuchengmen North Street, Xicheng District, Beijing
	 Attention:
	  	
	Tel:	  	 010-58551776

	 Fax:
	  	010-58551003

 CNPC Central Asia Petroleum Company Limited 

 

			
	 Address:
	  	1 Qingnianhu South Street, Dongcheng District, Beijing
	Attention:	  	
	 Tel:
	  	010-62096059
	 Fax:
	  	010-62096007

 Transferee: 
 PetroChina Company Limited 
  

			
	 Address:
	  	9 Dongzhimen North Street, Dongcheng District, Beijing
	 Attention:
	  	Chun Wang
	 Tel:
	  	010-59984573
	 Fax:
	  	010-62094518

  

	 	16.2	Each notice given by facsimile, email or personal delivery shall be deemed to have been duly delivered on the date such notice is sent out, unless the addressee furnish
proof to the contrary evidencing that it has not received such notice as a matter of fact. 

  

	 	16.3	Each notice given by mail shall be deemed to have been duly delivered three (3) business days after such notice is delivered to postal services, unless the
addressee furnish the proof to the contrary evidencing that it has not received such notice as a matter of fact. 

  

	 	16.4	In case any party hereto intends to change its contact person or any other contact information, such party shall notify the other party in writing seven
(7) business days prior to such change. 

 Article 17    Governing Law
and Dispute Resolution 
  

	 	17.1	The formation, validity, performance, interpretation and enforceability as well as any and all issues in connection with this Agreement shall be governed by the laws of
the PRC. 

  

	 	17.2	Any dispute arising from, out of or in connection with this Agreement shall be settled through friendly consultations among the parties. 

Article 18    Miscellaneous 

 

	 	18.1	Maintenance of Normal Operation and Management 

  
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 From the date hereof to the Closing Date, the parties hereto agree to maintain the normal
operation and management of the Target Company. The Transferor guarantees that the Target Company will not make any material change or conduct any substantial disposal with respect to its human resources or assets, nor will it make any change or
conduct any disposal with respect to the Subject Interest or the human resources relating thereto in a way contrary to the purpose of this Agreement. In the event of any material changes to the Target Company other than in the ordinary course of its
business, the Transferor shall forthwith notify the Transferee in writing of such changes. 
  

	 	18.2	Decision-making and Delivery of Operation and Management 

 As from the Closing Date, the Transferee shall have the right to nominate candidates for members of the board of directors and the board of supervisors of the Target Company, and to participate in the
decision-making, operation and management of the Target Company. The Transferor shall do its best endeavors to provide any and all assistance and deliver the relevant materials and documents in its possession to the Transferee. 

 

	 	18.3	Disposal of Creditor’s Rights and Debts 

 Following the consummation of the Transfer, all the creditor’s rights, debts and other contingent liabilities of the Target Company shall continue to be enjoyed and assumed by the Target Company.

 This Agreement shall be executed in nine (9) counterparts, with two for each party and the remainder for standby purposes. All such
counterparts shall have equal legal force. 
 [End of text] 

  
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 (Signature page of the Equity Transfer Agreement by and between CNPC Exploration and Development Company
Limited and CNPC Central Asia Petroleum Company Limited on the one side and PetroChina Company Limited on the other side) 
 The Transferors:

 CNPC Exploration and Development Company Limited 
 Legal Representatives or Authorized Representative: /s/              
 CNPC Central Asia Petroleum Company Limited 
 Legal Representatives or Authorized
Representative: /s/              
 The Transferee: 

PetroChina Company Limited (affixed with the company seal) 
 Legal Representatives or Authorized Representative:
            /s/             

  
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