China's upstream oil and gas industry opens in steps to outsiders, awaits big discovery

Journal Article · Mon Nov 28 04:00:00 EST 1994 · Oil and Gas Journal; (United States)

OSTI ID:6814763

Since 1979, when the government began opening upstream projects to foreign capital, international companies have invested more than $4.2 billion in Chinese exploration and production, most of it offshore. But the payoff, both to China and to its new international investors, has been limited. The trend, nevertheless, is toward more and better opportunities for companies from outside China. The government wants the country to return to petroleum self-sufficiency. It recognizes that economic growth of 8--10%/year will keep demand rising steadily and make self-sufficiency increasingly difficult to reachieve and maintain. What's most important, it recognized long ago that the capital and technology essential to the job can come only from abroad. The paper discusses the shifting emphasis of the government's dealings with outsiders; the second round of bidding for onshore tracts; operations of the China National Petroleum Corp. which handles onshore operations; offshore operations; and China's progress since 1979.

• OSTI ID: 6814763
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:48; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
ASIA
CHINA
COOPERATION
ECONOMIC DEVELOPMENT
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
INDUSTRY
INVESTMENT
JOINT VENTURES
LEASING
MINERAL RESOURCES
NATURAL GAS
NATURAL GAS DEPOSITS
NATURAL GAS INDUSTRY
OFFSHORE SITES
ONSHORE SITES
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PRODUCTION
RESOURCES