Canadian blocks start up
Updated: 2013-03-20 07:30
By Du Juan (China Daily)
|
|||||||||||
Two shale gas blocks owned by Chinese private company Yantai Jereh Oilfield Services Group Co in Canada's Central Alberta region have started production, the company said on Tuesday.
In September 2012, the company bought 64 shale gas blocks in Canada for about 57.12 million yuan ($9.08 million) through its Canadian subsidiary Hitic Energy Ltd.
As the only Chinese company exporting complete sets of shale gas development equipment to the North American market, Yantai Jereh is not only interested in manufacturing, but also in the exploration of upstream resources, Jiang Xiaobao, the company's vice-president, told China Daily at the 5th International Petroleum Summit in Beijing.
"The two blocks' shale gas reserves are very promising, and Canada's transparent regulations provide us with good business opportunities," he said.
The 64 blocks are expected to hold reserves of more than 200 million barrels.
The company has sold more than 200 units of shale gas development equipment in China and overseas since 2011, and also built a factory in Houston in the United States. So far, Jereh has provided equipment to more than 35 countries.
The company's revenue in 2012 grew by about 30 percent in the overseas market, and Jiang expects the figure to continue to increase this year.
At the same time, the company is also focusing on the domestic market.
"We are developing equipment especially for the Chinese shale gas market," he said.
Related Stories
Shale gas to spark equipment boom 2013-03-20 00:09
CNPC sets up two shale gas fields 2013-03-13 19:53
Shale gas sector in 'urgent need of technology boost' 2013-03-08 10:26
Honghua, Shenhua enter shale gas JV 2013-02-16 09:01
Wujiang Hydropower to develop shale gas projects 2013-02-05 14:48
Today's Top News
Police continue manhunt for 2nd bombing suspect
H7N9 flu transmission studied
8% growth predicted for Q2
Nuke reactor gets foreign contract
First couple on Time's list of most influential
'Green' awareness levels drop in Beijing
Palace Museum spruces up
Trading channels 'need to broaden'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |
Firms crave cyber connection |