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Oil and gas exploration and production market is fully liberalized

Time: January 9, 2020 10:26:28 China Finance Network
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Ministry of Natural Resources: China will fully open the oil and gas exploration and production market <br /> The reporter just learned from the Ministry of Natural Resources that China will fully open the oil and gas exploration and production market, allowing private enterprises, foreign capital enterprises and other social capitals to enter the oil and gas exploration and development field.

According to the Ministry of Natural Resources, as long as it is registered in the People's Republic of China, domestic and foreign companies with net assets of not less than 300 million yuan are eligible to obtain oil and gas mining rights in accordance with regulations; companies engaged in oil and gas exploration and production shall meet safety and environmental protection qualification requirements And regulations, and have corresponding oil and gas exploration and production technology capabilities.

Yao Huajun, director of the Department of Mining Rights Management of the Ministry of Natural Resources, said in an interview with CCTV reporters that the market access for oil and gas exploration and mining, including exploration rights and mining rights, has been fully liberalized, which has changed the past mainly owned by several state-owned companies. This situation. The participation of various market entities, including foreign capital, private enterprises, and various social capital, will further stimulate market vitality. There are more channels to raise funds for exploration and development, and to form a market with national oil companies as the main body and a variety of economic components. System, increase exploration and development efforts, and improve national resource security capabilities. (CCTV)
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