Currently

China's three major national oil companies (Petro China

Sinopec and CNOOC (China National Offshore Oil Corporation)) are mainly en- gaged in Production Sharing Contracts (PSC). In allusion to foreign cooperative programs with production sharing model

through various researches and surveys with the purpose of petroleum external cooperation

the paper analyses the contri- bution and function of foreign cooperation programs from the Chinese petroleum companies perspective

and build a mid-term evaluation index system to the inter- national cooperation programs respectively from three aspects: the economic bene- fits

social benefits and risk assessments. The relevant evaluation method was also given

providing reference for evaluation indicators which contribute to better co- operation between domestic oil companies and foreign oil enterprises.