Shell, CNPC to jointly seek shale gas in Sichuan Basin
Updated: 2014-03-26 08:31
By He Wei in Shanghai (China Daily)
|
|||||||||||
Energy conglomerate Royal Dutch Shell Plc is committing to a "substantial investment" in exploring for conventional and unconventional gas in China to quench the growing thirst for clean energy in the world's second-largest economy.
|
|
"We are now in the exploration phase by drilling various wells and testing underground pressure in these areas. Some parts of the projects have moved into the appraisal stage, and it will take time before we determine our next step,"
Shell expects to have a thorough knowledge of local geology by the end of 2014 into early next year, when Shell and CNPC will determine in tandem what the next steps are, Vigevino noted.
He did not disclose the amount of the company's investment. But the firm had pledged earlier to spend $1 billion annually in developing the country's vast shale gas reserves.
Vigeveno's words came amid concerns that oil majors in the United States are spinning off shale assets after struggling to profit from the prolific sector and that a similar retreat might occur in China.
But experience drawn from the North American market has helped accelerate drilling in China, making the exploration more efficient and effective, said Matthias Bichsel, Shell's director of projects and technology.
|
|
Related Stories
CNPC taps new gas reservoir 2014-03-22 07:40
CNPC to build pipeline with Tajiktransgaz 2014-03-11 09:37
CNPC's 2013 oil and gas output up 10.2% 2014-01-17 10:41
China progressing in shale gas equipment development 2014-03-25 10:27
Sinopec makes breakthrough in shale gas 2014-03-25 07:16
Shale gas faces a bumpy road en route to boom 2014-02-13 08:27
Today's Top News
Xi pledges to bolster nuclear security
Kremlin 'ready' to work with G7
Beijing among most polluted areas
China eyes 'Cathay' tulip import
President takes detour on state visit to France
US mudslide death toll climbs to 14, 176 missing
Courier, customer brawl in Chongqing
Tibet Airlines to open four new routes
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
President Xi visits western Europe |
Diaries shed lights on massacre |
Naturists on the path to acceptance |
Missing plane puzzle remains unsolved |
Modern merchants follow Silk Road |
Doubts linger over warning system for smog |