COMPANIES SLATE ASSESSMENT OF CHINESE ACREAGE

Several companies have agreed to form a bidding group to evaluate five blocks in the southeast part of China's highly prospective Tarim basin in Xinjiang autonomous region. Exxon Corp., with a 33% interest, will lead the group. Its partners are Mobil Corp. 35%, British Gas Exploration & Production Ltd. 15%, Sumitomo Corp. 7.5%, and Indonesia Petroleum Ltd. 7.5%. China National Petroleum Corp. offered the acreage early this year (OGJ, Apr. 12, p. 36), in the first offering of exploration