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CHINA: Construction plans for proposed $700,000,000 gas reserves development and pipeline...

PROJECT OVERVIEW:

Subsequent to the discovery of natural gas reserve of 1.5 trillion cubic feet in Guangdong, the local CHINA NATIONAL OFFSHORE OIL CORP. (CNOOC) is now gearing-up to develop its find as well as build a pipeline network in the Pearl River Delta. In so doing, the company expects to invest about $700,000,000 over the next couple of years.

Construction plans under consideration call for building a pipeline system that will supply natural gas to Macau and Zhuhai as well as strengthen the company's supply network and asset base in the South China

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