EX-4.1 2 h04189exv4w1.htm EX-4.1 EX-4.1
     
Exhibit 4.1
Year 2009 Performance Contract with Management of PetroChina Company Limited
                             
                 
  Offeree: Name: ZHOU, Jiping     Offeror: Name: JIANG, Jiemin     Term of the Contract: January 1, 2010 to December
     31, 2010		  
 
Title:
  President of PetroChina Company
Limited (“PetroChina”) 		    Title:   Chairman of the Board of Directors of
PetroChina 		    Date of Execution:January 16, 2010  
 
 
                          
                 
                                                     
     
  Indices     Key Performance     Weight (%)     Measurement     Target     Actual     Departments Providing the  
        Indices (KPI)

                       Performance

     Numbers

  
                                         
 
Profits Indices
    Rate of return of the
invested capital of
PetroChina (ROIC) 		    35         %         8.4             Budget Management
Department		  
 
 
                                                  
 
 
    Net income of
PetroChina (NI) 		    20         In 100 million RMB     1002                  
 
 
                                                  
 
 
    Free cash flow of
PetroChina (FCF) 		    15         In 100 million RMB     -458.6                  
 
 
                                                  
                                         
 
Operating Indices
    Rate of crude oil
reserves replacement 		    10         %         Oil: 1

Natural Gas: 3
(Domestic
model) 		          Planning Department  
 
 
                                                  
                                         

 

 

     
                                                 
                                         
 
 
    Domestic unit oil and
gas lifting cost 		    5         US$/barrel     24.18               Budget Management Department  
 
 
                                              
                                         
 
 
    Cash processing cost
for oil 		    5         RMB/ton     214.0                  
 
 
                                              
                                         
 
 
    Cash marketing cost for
oil 		    5         RMB/ton     346.45                  
 
 
                                              
                                         
 
 
    Gap between the actual
capital expenditure and
budget 		    5         %     ± 5               Planning Department  
 
 
                                              
                                         

 

 

     
                                         
                                         
  Indices to be Put
under Control		     Safety and
environmental
protection		     employee death arising from industrial production
accidents ≤ 0.04%;

extraordinarily serious safe production accidents = 0;
and

extraordinarily serious environmental accidents=0.		     Comprehensive performance expressed in marks to be increased by 5 marks if achieving the target for the relevant index put under control, and to be reduced by 5 marks if failing to achieve the target for the relevant index put under control.

     Safety and Environment
Protection Department		  
                                         
  Performance review marks of the Offeree should be increased by 5 marks if PetroChina establishes the all-employee performance review system within 2010, and on the contrary, performance review marks of the Offeree should be decreased by 5 marks if PetroChina fails to establish the all-employee performance review system within 2010

  
                                         
     
Signature of Offeree: ZHOU JIping
  Signature of Offeror: JIANG Jiemin