China has reportedly auctioned 3 o+g blocks in the Tarim Basin, NW Xinjiang for some USD 422 MM to Shenergy Co., Xinjiang Energy Co. and Zhongman Petroleum and Gas Group. Seven companies participated in the auction. The 3 blocks were part of 5 earmarked for sale, total 9,091 sq km.
Shenergy Co, Xinjiang Energy (Group) Co and ZPEC (Zhongman Petr.&Natural Gas) secured the rights for 3 oil and gas exploration blocks in the remote northwest Xinjiang region, for more than US$422 MM, after a bidding competition that attracted 7 companies.