Total SA and PetroChina to develop gas field in Inner Mongolia

France-based oil major Total SA and PetroChina, the nation's top oil producer, are reportedly close to an agreement to develop a major natural gas block in Sulige field in Inner Mongolia autonomous region.

The deal will become China's latest cooperation with overseas firms on natural gas once obtains go-ahead from the National Development and Reform Commission (NDRC), China's top economy planner. However, financial details of the deal have not been disclosed.

According to an insider from Total, both sides are still in commercial negotiations on the investment, and the French company has completed a production plan.