JNOC TO FUND FIRST TARIM FOREIGN JOINT VENTURE

Japan National Oil Corp. (JNOC) and China have signed a preliminary agreement for a joint venture seismic program in the Tarim basin of Northwest China. JNOC will provide the program's 6.6 billion yen ($48.55 million) outlay, making it the first foreign operating company to conduct exploration in the region (OGJ, Feb. 25, Newsletter). The first surveys will get under way this autumn. The extent and type of seismic coverage are not disclosed. The program could take 4 1/2 years. JNOC plans

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