Companies / China
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Total's China Upstream Profile Gets Big Boost with Gas Deal
March 2006 | Contract NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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French oil major Total and PetroChina just inked a production sharing contract (PSC) for the exploration and production of natural gas in the significant Sulige field in north-west China. The deal gives an important boost to Total's profile in the country, which has lately been focused on the downstream sector. The oil major and PetroChina, Asia's largest company by market value and the biggest oil producer in the country, plan to spend up to US$20mn on exploratory drilling, with full production expected to reach 11mn cubic metres (mcm) of gas per day. The Erdos basin, where the field is located,