Chevron, PetroChina to develop natural gas field
7 August 2007
US energy firm Chevron won a bid to help develop a PetroChina natural gas field in Sichuan province, the Wall Street Journal reported. The company had been competing with Royal Dutch Shell, Total and Statoil for development rights. The collaboration will tap the Luojiazhai gas fields, which carry 2.03 trillion cubic feet of natural gas reserves. Luojiazhai will be the third natural gas field PetroChina has jointly developed with a foreign company, highlighting a trend towards allowing foreign companies to cooperate on refining and petrochemical projects in the country's tightly held energy sector.