Oil and Gas Exploration Rights of 14 Blocks Transferred Through Competition
Source: www.mlr.gov.cn Citation: www.gov.cn/ www.xinhuanet.com Date: Feb. 1, 2014
As an important probe into China’s oil and gas exploration registration management system reform, the Ministry of Land and Resources recently completed competitive transfer of exploration rights for three basins, 14 blocks in aggregate.
The Ministry of Land and Resources completed competitive transfer of oil and gas exploration rights for Yine, South Yellow Sea and Tarim basin in 2013, 14 blocks in all, covering 67935.5 square kilometers. The geological exploration department of Ministry of Land and Resources claimed a total of 17 oil and gas exploration blocks were transferred through competition, with a total area of 79685 square kilometers. The blocks consisted of two parts, of which some were registered by oil companies that did not meet the minimum input standard required by law and retrieved by the Ministry of Land and Resources in accordance with related laws to reselect favorable areas for transfer; the rest were areas with certain exploration prospects based on commonweal oil and gas geology evaluation.
According to relevant information, this competitive transfer is another important probe into China`s oil and gas exploration rights registration and management system reform, urging enterprises to increase exploration input by introducing competition mechanism under the circumstance of conventional oil and gas monopoly. Four companies, Petrochina, Sinopec, CNOOC, Yanchang and Oilfield participated in the exploration right competition. The expert panel scored each exploration plan submitted by the oil companies to determine the exploration right possessor of each block. The oil and gas exploration right competition transfer team, Ministry of Land and Resources published the results. Eventually, Petrochina gained 1 block, Sinopec 4 blocks, CNOOC 6 blocks, Yanchang Oilfield 3 blocks. Two blocks were left in default of competing companies and one was repealed as the exploration plans submitted by the companies could not meet the statutory minimum exploration input standard. (Translated by TLRHVC)
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.
As an important probe into China’s oil and gas exploration registration management system reform, the Ministry of Land and Resources recently completed competitive transfer of exploration rights for three basins, 14 blocks in aggregate.
The Ministry of Land and Resources completed competitive transfer of oil and gas exploration rights for Yine, South Yellow Sea and Tarim basin in 2013, 14 blocks in all, covering 67935.5 square kilometers. The geological exploration department of Ministry of Land and Resources claimed a total of 17 oil and gas exploration blocks were transferred through competition, with a total area of 79685 square kilometers. The blocks consisted of two parts, of which some were registered by oil companies that did not meet the minimum input standard required by law and retrieved by the Ministry of Land and Resources in accordance with related laws to reselect favorable areas for transfer; the rest were areas with certain exploration prospects based on commonweal oil and gas geology evaluation.
According to relevant information, this competitive transfer is another important probe into China`s oil and gas exploration rights registration and management system reform, urging enterprises to increase exploration input by introducing competition mechanism under the circumstance of conventional oil and gas monopoly. Four companies, Petrochina, Sinopec, CNOOC, Yanchang and Oilfield participated in the exploration right competition. The expert panel scored each exploration plan submitted by the oil companies to determine the exploration right possessor of each block. The oil and gas exploration right competition transfer team, Ministry of Land and Resources published the results. Eventually, Petrochina gained 1 block, Sinopec 4 blocks, CNOOC 6 blocks, Yanchang Oilfield 3 blocks. Two blocks were left in default of competing companies and one was repealed as the exploration plans submitted by the companies could not meet the statutory minimum exploration input standard. (Translated by TLRHVC)
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on October 20-23, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.
