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WATCHING THE WORLD: China touts Nanpu find
05/14/2007
The Chinese can hardly contain their glee over the recent discovery of Nanpu oil field in Bohai Bay. The find, they say-when slowing down long enough to talk-is the country’s largest in decades.“Discovery of such a major oil field offers great flexibility and initiative for the country to plan and adjust its energy strategy,” said Hu Wenrui, vice-president of CNPC subsidiary PetroChina, which announced on May 3 a 1.02 billion-tonne reserve of oil equivalent on the Nanpu Block.“The Bohai Bay is a relatively mature area and this new discovery is encouraging,” Mark McCafferty, the lead analyst for Southeast Asia at energy consultant Wood Mackenzie, told Reuters....
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