China poised to offer 20 exploration blocks

By Xu Yihe Singapore

 20 April 2012 05:42 GMT

China’s Ministry of Land & ­Resources (MLR) is poised to offer 20 blocks to up to 17 companies in August this year, some months after the previously ­announced target of March or April for the launch.

The blocks are spread over more than 10 provinces, including Guizhou, Sichuan, Hunan, Shaanxi, Jiangsu, Anhui and Henan, Chongqing city and ­Xinjiang region.

Most of them are located in the 19 target basins and regions listed by MLR for exploration as part of the campaign during the current five-year development period, from 2011 to 2015.

MLR sources said private companies are invited to participate in the bidding, but they have to have a registered capital of 300 million yuan ($48 million) and minimum cash of 1 billion yuan.

In addition, the participants should either…

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