From our archives

June 2, 1984 Major oil exploration planned

The government is preparing to explore the Karamay Oilfield in the Junggar Basin in the northwestern part of the country. The project is part of efforts to find new sources of oil as reserves in major existing fields decline.

The World Bank has given a $100.3-million loan for the project, which will expand the schemes that it has been supporting. The project's main objective is to introduce modern technology and methods to the country's petroleum industry.