EX-4.12 6 u98151exv4w12.txt 2001 PERFORMANCE CONTRACT BTW SU SHULIN & CO. Exhibit 4.12 YEAR 2001 PERFORMANCE CONTRACT WITH VICE PRESIDENT OF PETROCHINA COMPANY LIMITED AND CHAIRMAN OF BOARD OF DIRECTORS AND GENERAL MANAGER OF DAQING OILFIELD LIMITED COMPANY Offeree: Name: SU, Shulin Offeror: Name: LUO, Yingjun Term of the Contract: January 1, 2001 to December 31, 2001 Title: Vice President of PetroChina Company Title: Vice President of PetroChina Company Limited ("PetroChina") and Chairman of Limited and General Manager of Date of Execution: January 16, 2001 the Board of Directors and General PetroChina Exploration & Production Manager of Daqing Oilfield Limited Company Company ("Daqing Oilfield")
INDICES KEY PERFORMANCE INDICES WEIGHT MEASUREMENT TARGET ACTUAL PERFORMANCE ------- ----------------------- ------ ----------- ------ ------------------ (KPI) Profits Indices Gross profit PetroChina 5% In thousand RMB 61,000,000 PetroChina Natural Gas 35% In thousand RMB 42,548,000 & Pipeline Company Rate of return of Daqing 20% % 45.73 Oilfield (ROIC) Operating Indices Unit operating cost for 20% USD/barrel- 4.09 oil and gas* of-equivalent(BOE)
Operating Indices Unit exploration cost for 5% USD/BOE 1.63 oil and gas (weighted average for past three years) Unit development cost for 5% USD/BOE 4.54 oil and gas Receivables 5% % Consideration for goods in the current year to be 100% recovered; receivables in the year 1999~2000 to be 20% lower than the number at the beginning of the year. Increase in proven 5% In thousand barrels 105,395.5 exploitable crude oil reserves
Indices to Be Put under Safety and environmental Accidents involving Comprehensive Control protection death = 0.05 performance expressed persons/million in marks to be reduced man-hours; by 10 marks if exceeding target of accidents involving the index put under economic loss exceeding control. RMB 300,000 = 0; environmental pollution accidents involving economic loss exceeding RMB 100,000 = 0.
Total number of 90,436 persons by the employees end of the office term Improving ideological Eliminating various and and political work, factors causing enhancing Party Conduct instability succeeding and anti-corruption in preventing occurrence campaign and maintaining of any mass commotion a stable employee team and any severe offence against Party conduct and anti-corruption disciplines by any officer of Daqing Oilfield
* Performance regarding total operating cost for the year 2001 is to be evaluated based on USD 4.48/BOE. Signature of Offeree: s/Su Shulin Signature of Offeror : s/Luo Yingjun ----------- -------------