Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Beijing – At least 19 foreign companies have submitted applications for the tender offered by the PetroChina Co Ltd to construct a cross-country natural gas pipeline in China, the China Daily reported on Wednesday.
The bidders for the 4 200 km (2 625 mile) pipeline from the northwestern region of Xinjiang to the eastern city of Shanghai included oil giants BP Amoco, Royal/Dutch Shell Group, Exxon Mobil Corp and France-based TotalFinalElf Oil
Company, the newspaper said.
PetroChina would pick foreign partners in June, it said.
The bid winners would also have the opportunity to
cooperate with PetroChina in exploring five oil and gas fields
in Tarim basin of Xinjiang, such as the Kela-2 and Yaha fields,
it quoted PetroChina Vice-President Shi Xingquan as saying.
Kela-2 field contains 250.6 billion cubic meters of gas
reserves. PetroChina plans to establish an annual gas
production of 10 billion cubic metres there.
Yaha field, which went into operation last November, is
expected to produce about 500 000 tonnes of condensed oil and 1.2 billion cubic metres of naural gas annually.
PetroChina would take a controlling stake in the gas
exploration, the newspaper said.
The government has verified 400 bcm of gas reserves in the
Tarim Basin and aims to find another 600 bcm of reserves in the
next five years to supply the pipeline for 30 years at an
annual capacity of 12 billion cubic metres.
The government has said foreign investors would be allowed
to control stakes in the construction and operation of the
pipeline.
Construction of the pipeline is scheduled to start in the
fourth quarter of this year and be completed by the end of
2003.