Rights for exploration of oil and gas in China’s Xinjiang sold for $421 million

Beijing. January 25. Silkroadnews - The rights to explore oil and gas in Chinese Xinjiang have been sold for $421 million, The Global Times reported.
“The exploration rights of three oil and gas exploration blocks in northwest China’s Xinjiang Uygur Autonomous Region were publicly sold to three companies,” the report said.
According to the Department of Land and Resources of Xinjiang, a notice for the sale of rights to explore five blocks of oil and gas exploration was published in December last year.
Seven companies took part in the competition, but only three of them were able to acquire exploration rights on three blocks - Shenergy Co., Ltd, Xinjiang Energy (Group) Co., Ltd and Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC). The total deal amount exceeded 2.7 billion yuan ($421 million).