By an OGJ Online Correspondent
BEIJING, May 25 -- China revealed details of a proposal to open six natural gas blocks in northwestern China's Tarim basin for foreign investment.
The offering was announced previously (OGJ Online, May 22, 2001).
The six blocks are Kela-2, Yinan-Tuzi, Dabei, Yudong-2, Yingmai-7, and Yangtake, all in the north Kuqa depression.
The blocks, covering 729 sq km, are all in development stage with combined proven gas reserves of 335 billion cu m.
Royal Dutch/Shell Group and ExxonMobil Corp. have spent millions of dollars in geological data appraisal of Kela-2.
China said the opportunities to invest in the gas development at Tarim is meant to encourage foreign companies to invest in the Tarim-Shanghai pipeline gas construction.
Seven consortia and companies are bidding for a stake in the pipeline.
PetroChina will soon start one-on-one talks to foreign companies that might be interested in these blocks.
This is the third time China has offered Tarim blocks for foreign investment. The first two were in 1993 and 1995.