Investment Updates News
- Total targets up to US$80m investment
Date: 15-Dec-2006 Sources: (Shenzhen Daily)
TOTAL S.A. of France is evaluating several onshore and offshore oil and gas projects in China and plans to invest US$60 million to US$80 million in the country over the next two years, the China Daily reported Thursday.
Investment includes the start of joint exploration of the south Sulige block in northern China's Ordos Basin in partnership with PetroChina Co., the report quoted Charles Mattenet, Total's senior vice president for Asia and the Far East, as saying. Total is looking at the exploration feasibility of 12 blocks in the resource-rich Tarim Basin in northwestern China, which have been offered by PetroChina to foreign investors.
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