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
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: XX, Xxxxxx Offeror: Name: XXX, Xxxxxxx Xxxx 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
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(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/Xx Xxxxxx Signature of Offeror : s/Xxx Xxxxxxx
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