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Int'l Oil Giants Eye Oil-rich Ordos Basin
Since the beginning of this year, a batch of international top rank petroleum heavyweights have gone into talks with Changqing Oil Field Company to probe the possibility for jointly exploring gas and oil in the Ordos Basin.
As is reported, Changqing is having negotiations with ExxonMobil and Chevron on co-exploring natural gas in Sulige and Mizhi gas fields. A 24-member delegation from Japan-Asia Exchange Association came here for the fourth time on July 30 to seek possible cooperation.
Earlier, Changqing has had deals to go into cooperation in designing, infrustructure and procument with worldwide petroleum conglomerates like Halliburton of the US, BJ and Baker Hughes with great success achieved.
Ordos Basin, nicknamed as Shaanxi-Gansu-Ningxia Basin, is the second largest sedimentary basin in China with an overall oil reserve topping 8.588 billion tons. By the end of 2000, an accumulated amount of 921 million tons of oil resources over an area of 1747 sq. km. has been proven.
Changqing and PetroChina Company Limited recently designated Ordos Basin as PetroChina's strategic substitute in the future and approved 13 opening districts for international cooperation.
Basin Rich in Petroleum Attracts Foreign Investors
The Ordos Basin, rich in petroleum resources, is attracting an increasing number of foreign petroleum giants, sources said.
Following the cooperation with a group of foreign oil companies to develop the petroleum resources in the basin, the Changqing Oilfield Company is negotiating with the Exxon Mobil Corporation and the Chevron Overseas Petroleum Inc. to develop natural gas in the Sulige and Mizhi gas fields.
By PD Online staff member Li Heng
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