KUWAIT

Santa Fe Acquires a 15% Stake in Chinese Gas Field 

Santa Fe Minerals (Asia), a wholly-owned subsidiary of the Kuwait Petroleum Corporation (KPC), has acquired a 15% equity interest in a $500mn 25-year joint-venture contract for the development of a gas field lying some 105 kms. southwest of Hainan Island in the South China Sea. The agreement, which was signed on 28 September between the Chinese National Offshore Oil Corporation (CNOOC), Atlantic Richfield Company (Arco) of the...