CNPC seeks investment in untapped Xinjiang gas fields

State-owned China National Petroleum Corp., the nation’s largest oil and gas producer, plans to sell stakes in two large, untapped oil and gas fields in Xinjiang to investors this year, Bloomberg reported, citing unnamed company officials. The energy major is seeking partners with around RMB 10 billion (US$1.62 billion) to invest in exploration and production ventures, though these will be limited to companies backed by Xinjiang’s local government or Xinjiang Production and Construction Corp., a former military body that oversees some of the province’s commodities output. The officials said such investments might later open up to domestic and foreign private investors.