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CNPC and Malaysia's Rimbunan Hijau Group sign oil contract on Block 1 of Fuyu in the Songliao Basin

Source: www.gulfoilandgas.com 11/14/2007, Location: Asia

CNPC signed a contract in Beijing with Kingworld Resources Ltd., a subsidiary of Rimbunan Hijau Group from Malaysia, on the cooperative development and production of hydrocarbon resources at Block 1 of Fuyu in the Songliao Basin. The newly signed contract area is located in Jilin Province, covering an area of 254.9 square kilometers. The difficult-to-produce heavy oil reserves in the block are expected to be recovered by introducing advanced technologies from abroad.

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