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Bidding Notice for the Nine1-Nine5 Block

Source: www.gulfoilandgas.com 10/30/2018, Location: Asia

China National Petroleum Corporation (CNPC) hereby announces the commencement of Bidding for the Nine1-Nine5 Block in Junggar Basin of the People's Republic of China in Cooperation with Foreign Enterprises. Interested foreign companies are invited to bid for the offered block, singly or in association with other foreign companies. The Nine1-Nine5 Block is located in northwestern Junggar Basin covering a total area of twenty (20) square kilometers and approximately forty (40) kilometers away from the northeast part of Karamay city. The Block is being developed. The purpose of cooperation is to introduce foreign capital and technology to develop the petroleum resource in carboniferous system and the shallow layers thereof. The registration for the Bidding starts on November 1, 2018, and the interested foreign company is kindly requested to send its application for registration in writing and in person to the liaison person prior to the deadline date for registration. The application for registration shall include the company's full name, domicile, place of registration, complete postal address, telephone and fax numbers, as well as the name and designation of the contact person(s). The company applying for registration shall be an enterprise incorporated outside China or in Hongkong, Macao and Taiwan with independent legal personality and necessary oilfield production management capability, and the company's net asset shall not be less than fifty million U.S. Dollars (U.S. $50,000,000.00). The registered foreign companies shall have access to data according to the registration sequence. The deadline for the bidding registration is 4:00 P.M., November 9, 2018 (Beijing time). The deadline for acceptance of Bid Proposals is 4:00 P.M., January 18, 2019 (Beijing time).

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