China’s largest oil company, China National Petroleum Corporation (CNPC), will jointly develop an oilfield in Uzbekistan with that country’s state oil company, state media reported. The field has oil reserves of more than 30 million tons, and is expected to have an annual capacity of 2 million tons, CNPC said. The Chinese company said the agreement will help meet Uzbekistan’s demand for oil and boost the development of China’s upstream natural gas business. It said the project will also help CNPC improve its oil drilling technology.
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