REPLY OF THE MINISTRY OF COMMERCE CONCERNING THE CONSENT ON THE CHANGE OF OVERSEAS ENTERPRISE NAMES

Reply of the Ministry of Commerce Concerning the Consent on the Change of Overseas Enterprise Names

Shang He Pi [2006] No.994

China Sinochem Corporation:

We have received Sinochem’s Request for Instructions on Altering the Names of Four Offshore Companies in Cayman Islands (Zhong Hua
Gui [2006] No.97) Upon study, we hereby render a reply as follows:

1.

The name of the company established by your company in Cayman Islands is approved to change from “Sinochem Petroleum ApS” to “Sinochem
Petroleum Limited”. Other issues shall remain unchanged.

2.

The names of the three enterprises established by Sinochem Petroleum ApS in Cayman Islands through reinvestment are approved to change
from Atlantis Holding Norway AS, Atlantis Technology Services (Tunisia) AS and Atlantis (Ras A1 khmaiah) AS to “Atlantis (UAQ) Limited”,
“Atlantis (Tunisia) Limited” and Atlantis (RAK) Limited”. Other issues shall remain unchanged.

3.

After receiving this Reply, your Company shall obtain a new Approval Certificate for the Overseas Investment by Chinese Enterprises
at the Ministry of Commerce (the Cooperation Department), and handle the related formalities upon the strength of such Approval Certificate
within one year.

4.

Your Company shall handle the related registration formalities at the foreign exchange department within 60 days after obtaining the
Approval Certificate.

5.

According to the related provisions of the state, the shares of Chinese party in an overseas enterprise shall not be held in the name
of any individual. The entrustment agreement shall be notarized at home and abroad in accordance with the related provisions if it
is really necessary to hold the shares in the name of an individual. Please implement this reply accordingly.

The Ministry of Commerce of the People’s Republic of China

December 22, 2006