EXPLORATION

ChevronTexaco to increase Chinese production

America's second largest oil company, ChevronTexaco, said it plans to double production at its oil field in Bohai Bay, off northern China, within 10 months to 65,000 barrels a day.

The field, called QHD 32-6, is 130km east of Tianjin and pumps 29,000 barrels a day. ChevronTexaco and UK's BP each own 24.5 per cent of the field, while China's state-controlled CNOCC owns the rest.

In other news from China, Royal Dutch/Shell is leading a group of foreign investors that includes ExxonMobil Corp, in talks to help China build a 4,000km, $US14 billion natural gas-pipeline across the vast nation of 1.3 billion people. The pipeline would take gas from the north-western Xinjiang province to Shanghai on the east coast.

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