China and Taiwan Combine to Conquer Bonaparte

12 August 2009 (Last Updated August 12th, 2009 18:30)

Taiwan’s CPC and Chinese oil and gas company Sinopec, the country's second-largest producer, will join forces to search for gas in the Bonaparte basin, 330km north of Darwin, Australia. Bonaparte is expected to have about 390 billion cubic metres of gas reserves, and as part of the deal

Taiwan’s CPC and Chinese oil and gas company Sinopec, the country's second-largest producer, will join forces to search for gas in the Bonaparte basin, 330km north of Darwin, Australia.

Bonaparte is expected to have about 390 billion cubic metres of gas reserves, and as part of the deal Sinopec will sell the state-controlled CPC 40% of its NT/P76 block.