Published by: THE WORLD UYGHUR NETWORK NEWS October 16, 1997

10/08/97, Beijing Xinhua, FBIS Transcribed Text

Paris, October 8 (XINHUA) -- The French oil group Elf-Aquitaine considers its cooperation with China and other Asian countries "fundamental" for its future development, said Philippe Jaffre, president of Elf-Aquitaine. During a meeting with Paris-based Chinese journalists today at the Elf headquarters in Paris, Jaffre said that as a global reaching enterprise and with a 1 billion dollar investment plan in China, Elf wishes to fully establish itself in the Chinese

market, which has a huge potential in the development of oil, chemical and health products. Jean Alliot, director of evaluation and programs of Elf, said that Elf plans to continue its programs of exploration of oil resources in China, and is now exploring the Tarim basin in Xinjiang Autonomous Region of China. When Chinese Premier Li Peng visited France in April 1996, Elf and the Chinese group Sinochem renewed a crude oil supply contract which covers 1 million tons of crude oil over a two-year period.