PetroChina Issues Bid Sheets Nineteen Foreign Companies Pass Prequalification Evaluation for West-To-East Pipeline Project

abarrelfullabarrelfull wrote on 21 May 2012 13:01

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March 2, 2001

PetroChina Announced the bid sheet today that nineteen international companies including BP, ExxonMobil, Shell, etc. have passed prequalification evaluation for bidding on investing in China's West-East Gas Pipeline Project. This signals the project has reached the next phase of the bidding process.

According to the principle of "opening up the whole project to the outside world and seeking full-scale overseas cooperation" set forth by the state, PetroChina established an office to handle and process investments in the project. PetroChina issued invitations for bidding (IFB) on December 22, 2000. Ninety international petroleum companies, pipeline companies, large multi-business companies and investment banks have received IFBs. Of those, 19 companies including BP, ExxonMobil, Shell and Gaz de France have submitted their application and prequalification documents to PetroChina within the required time period and expressed their interest in the project.

In the next phase of the bidding process, these companies will submit their investment proposals in accordance with documents provided by PetroChina. After receiving the requisite documents, negotiations for MOUs and the framework for agreements of cooperation will begin.

It is expected that construction of the West-East Gas Pipeline Project will begin in the second half of this year and the pipeline will be operational in the second half of 2003

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