EX-4.1 2 h05015exv4w1.htm EX-4.1 exv4w1
 
Exhibit 4.1
English Translation of Chinese Original
 
Year 2011 Performance Contract with Management of PetroChina Company Limited
 
             
Offeree: Name: ZHOU, Jiping
    Offeror: Name: JIANG, Jiemin     Term of the Contract: January 1, 2011 to December 31, 2011
             
Title:  President of PetroChina Company Limited
(“PetroChina”)
   
Title:  Chairman of the Board of Directors of
PetroChina
    Date of Execution:           , 2011
             
 
                                     
                                    Departments
      Key Performance
 		                      Actual
 		    Providing the
Indices     Indices (KPI)     Weight (%)     Measurement     Target     Performance     Numbers
Profits Indices

85%
    Rate of return of the
invested capital
(ROIC) 		    30     %     8.8            
                                     
      Economic value
added (EVA) 		    10     In 100 million RMB     462.5            
                                     
      Net income (NI)     10     In 100 million RMB     1167.9           Budget Management
Department
                                     
      Free cash flow (FCF)     15     In 100 million RMB     -923.8            
                                     
      Domestic full cost for
oil 		    5     US$/barrel     27.18 (of which, the unit oil
and gas lifting cost shall be
US$10.48) 		           
                                     
      Full processing cost for
oil 		    5     RMB/ton     225.0            
                                     
      Marketing cost for oil     5     RMB/ton     289.45            
                                     
      Gap between the
actual capital
expenditure and
budget 		    5     %     ±5           Planning Department
                                     
Operating Indices

15%
    Rate of crude oil
reserves replacement 		    10          
oil: 1

natural gas: 2 (domestic
standard)
          Planning Department
                                     
      Energy and water
conservation 		    5     10,000 cubic
meter/10,000 TCE 		   
Energy conservation: 90

Water conservation: 1600
          Quality Management
and Energy
Conservation
Department
                                     
Indices for control
    Safety and
environmental
protection 		    employee death £ 0.0204 person/million manhours

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 for
control, and to be reduced
by 5 marks if failing to
achieve the target for the
relevant index for control. 		    Safety and
Environmental
Protection
Department
                                     
                                     
      Internal control     Meeting the requirement           Internal Control and
Risk Management
Department
                                     
 
Signature of Offeree: ZHOU JIping Signature of Offeror: JIANG Jiemin