China's stake: Central Asia. (China negotiates oil deal with Kazakhstan)(Asia)(Brief Article)

From: The Economist (US) | Date: August 16, 1997 | Copyright information

CHINESE geologists have tried hard to find oil within China's borders. In the 1980s, there were high hopes for the Tarim Basin, a huge desert north of Tibet. But by now, privately, China's oilmen admit that they have given up on the basin. In the coming decades, Asia's new superpower will need to look abroad to fuel its flourishing economy. A large oil deal negotiated this month with neighbouring Kazakhstan reveals China's game plan.

Kazakhstan's Uzen oilfield, located on the east Caspian Sea coast, is said to hold 130m-200m tonnes of oil; for comparison Britain's largest North ...

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