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Foreign Firms Bid for Gas Pipeline Project
Foreign companies are lining up for a part in the west-east natural gas pipeline project, the flagship scheme in China's "go west" plans.
By the end of last month, 19 foreign energy firms had submitted responses to the tender offer, said Vice-President Shi Xingquan of PetroChina Co., Ltd.
All applicants are from big companies, such as BP Amoco, Royal/ Dutch Shell, Exxon Mobil and the France-based TotalFinaElf Oil Company.
"The bid winners will have the option to cooperate with PetroChina in exploring five oilfields in Xinjiang's Tarim Basin, the major gas tap for the project," said Shi.
But PetroChina will hold a dominant stake in the gas exploration project, Shi added.
"Foreign investors will be able to enjoy preferential policies granted specifically to projects for the development of western China, such as favorable conditions in relation to taxation, land use and equipment imports," Shi said.
At present, the project, to be completed by 2004, has been carried out on schedule, according to Shi.
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