The MLR has offered two blocks in the southern part of the Yellow Sea to PetroChina and Sinopec respectively, through an invited tender procedure launched in early February. According to the contracts signed with MLR, Petro­China will invest 718 million yuan ($114 million) over the next three years to explore the Yancheng East Block, off Jiangsu province in the east, while Sinopec will spend 299.12