Oil and gas in China: The door opens wider to international oil companies
- China National Petroleum Corp., Beijing (China)
This paper reviews new incentives offered by the China National Petroleum Corporation to help develop China's oil and gas fields. The initial offer for bids by foreign investors is for exploration and joint development contracts for western China's Tarim basin. However, the expansion to other basins and areas of China is well underway. It also discusses a pipeline project which will be connect the western China oil and gas fields with the eastern markets, approximately 2,200 miles. A historical review of the oil and gas production and utilization of China is presented along with forecasts of future production. It also provides estimates of gas and oil reserves and information on enhanced recovery techniques used to maintain a stable production level. The second half of the paper is an interview with Dr. Wang Tao, a PhD graduate of Moscow's Petroleum Institute, and president of the China National Petroleum Corporation. He reviews the government policies with regards to foreign investment in his country.
- OSTI ID:
- 6428321
- Journal Information:
- World Oil; (United States), Vol. 214:6; ISSN 0043-8790
- Country of Publication:
- United States
- Language:
- English
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03 NATURAL GAS
29 ENERGY PLANNING
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PETROLEUM DEPOSITS
EXPLORATION
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FINANCIAL INCENTIVES
GOVERNMENT POLICIES
PETROLEUM INDUSTRY
LEGAL INCENTIVES
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