PetroChina Co, the nation's largest oil and gas producer, will pay 5.3 billion yuan (US$776 million) in cash to buy oilfield-service assets from its parent to aim exploration.

PetroChina will buy the assets from businesses located in Liaoning, Jilin, Hebei, Sichuan and Shaanxi provinces as well as Tianjin, the company said in a statement to the Shanghai Stock Exchange yesterday.

(Shanghai Daily?November 20, 2008)