FOREIGN FIRMS' DEALS PROGRESS IN CHINA

Foreign firms are making progress in Chinese exploration and development joint ventures. Energy Development Corp. (EDC), Houston, signed a contract with China National Oil Development Corp. (Cnodc) for joint exploration and development in East China's Jiangxi Province. The contract is only the second involving a mainland onshore basin since 1985, when Beijing opened 11 South China provinces to foreign companies for exploration joint ventures. Cheng Shouli, president of Cnodc, said more than

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