CNPC Looks Eagerly to Sichuan Shale Gas Exploration

CNPC plans to carry out the bulk of its shale gas project in Sichuan in the form of a joint venture, including 10% with foreign firms and 75% with domestic firms.

Shell and the CNPC have been actively undertaking the exploration work, scheduled for completion in late 2014 or the first quarter of 2015, the results of which will for the basis for Shell to decide its next step, according to Shi Jiangtao, spokesperson for Shell China.

In addition to Shell, CNPC is also in talks with other foreign firms for collaboration on the Sichuan project, including US-based ConocoPhillips and HESS, said Xie Jun, vice general manager of PetroChina Southwest Oil & Gasfield Company, a regional branch of CNPC.

A study of the oil and gas research center of the Ministry of Land and Resources shows that Sichuan boasts shale gas deposits amounting to 27.5 trillion cubic meters, 21% of the nation's total.
(wantchinatimes.comEdited by Topco)