Pearl shines for Chinese

 26 September 1998 00:00 GMT

CHINA National Offshore Oil Corporation has discovered a new oilfield in the Pearl River basin in the South China Sea, a company official said. Santa Fe Energy Resources of the US has been contracted to explore the new field.
The oilfield, located some 160 kilometres south-east of Hong Kong in block 15/34, has oil reserves estimated at 146 million barrels, the Xinhua news agency said.…

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