Sinopec Group, or China Petrochemical Corporation, the leading oil refiner from China, is turning its attention towards geothermal energy development. According to this news piece, Sinopec has established a joint venture in 2006 through its subsidiary, Sinopec Star Petroleum, and Enex Kina (Iceland), called Shaanxi Green Energy Geothermal Development. The new JV is engaged in geothermal exploration and exploitation as well as the development of related wokrmanship and technologies.

The company is now planning to provide geothermal heating coverage for about 4 million square meters of housing area by the end of 2010, with plans to increase the area to 10 million square meters in the next five years, but also to add geothermal power generation and waste water treatment.
Many oil companies turn towards geothermal eventually, since the technology for getting to underground heat reservoirs is basically the same as the technology for drilling towards oil and gas deposits.