Auction of oil, gas sites to boost energy exploration in Xinjiang

China is accelerating its efforts to open up upstream oil and gas resources by auctioning five more oil and gas exploration sites in the Xinjiang Uygur autonomous region.

This will be the third auction of oil and gas sites in the resource-rich northwestern region to privately owned firms and another step in opening up a sector largely monopolized by State-owned enterprises to private players.

The five new sites, located in Xinjiang's Tarim basin, have a combined area of more than 9,000 square kilometers and will be opened to bidders through five-year exploration permits, instead of the three-year permits offered in 2015, the Ministry of Land and Resources said on its website.