OREANDA-NEWS. March 10, 2011. According to the reports, state-run China National Petroleum Corporation (CNPC) and US major Chevron Corporation (NYSE:CVX) have started building gas production capacity at their USD4.7billion Chuandongbei sour gas project in Sichuan province.

Chevron Corporation (NYSE:CVX) and CNPC have signed a 30-year production sharing contract (PSC) in 2007 for Chuandongbei, which took effect in August 2008.

As the operator, Chevron Corporation (NYSE:CVX) took a 49% stake in the project, with the remaining 51% held by CNPC.

Chevron Corp. (NYSE:CVX) stocks were at 102.9 at the end of the last day’s trading. There’s been a 27.0% change in the stock price.