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After having opened up for 20 years, the field of oil/gas exploration and development in China is witnessing a new round of high tide to attract foreign investment.PetroChina, China’s biggest oil/gas producer and supplier,decided to offer 12 blocks totaling an acreage of 110,000sq.km. in Tarim Basin to players of the industry globally.The project is the biggest oil/gas deal in China aiming at foreign cooperation for approximately 12 years, in which the 12 blocks that will be offered located mainly in southwest, central and east Tarim Basin. It will enable PetroChina to combine its experience and cognition on the geological condition of Tarim Basin with the updated prospecting concept and advanced prospecting technique in the world, improve the proved degree of oil and gas resources in Tarim Basin and achieve a big breakthrough in oil and gas exploration.