En Español



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

PetroChina goal to meet a third of China's shale gas target by 2020

 

 

BEIJING
Petroleumworld.com 01 27 2017

China's biggest energy giant PetroChina plans to step up shale gas development in Sichuan province this year, aiming to meet a third of a 2020 government target for the unconventional resource, according to state media and a government official.

News agency Xinhua reported on Wednesday that PetroChina will step up drilling in southern parts of Sichuan province, China's top gas-producing region and a key area for early shale gas development.

PetroChina's plan to build 10 billion cubic metres (bcm) of shale gas output capacity by 2020 in Sichuan province would represent a third of Beijing's production target for the resource that year.

Domestic rival Sinopec Corp, which has been leading the sector with China's largest commercial shale gas discovery in nearby Chongqing municipality, aims for 10 bcm of output by the end of the decade as well.

"PetroChina is playing catch-up with Sinopec, as its understanding of the geology deepens and its technology improves," said a government official who oversees shale gas development.

"Longer-term PetroChina has greater potential in tapping shale resources as it operates on a much larger acreage," said the official, who declined to be named as he is not authorized to speak to press.

China, which claims to have the world's largest technically recoverable shale gas resources, has a much higher development cost compared with North America, however, due to more complicated geology and scarce water resources.

Despite Beijing's push to boost gas use at the expense of coal, natural gas demand has since late 2014 grown much slower compared with the previous decade, mainly because of easing economic growth and competition from cheaper global supplies.

PetroChina last year produced 2.3 bcm of shale gas in Sichuan province, mostly from 120 production wells in the Changning-Weiyuan pilot zone, Xinhua said. It also laid 220 kilometres of pipelines.

For 2017, the state oil and gas company plans 19 new rigs to drill 110 wells in the area, part of a total 600 wells planned over the coming four years, Xinhua said.



Story by Chen Aizhu ; Editing by Tom Hogue from Reuters.

We invite all our readers to share with us
their views and comments about this article
.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

 

 

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:P.Ohep F. /Producer - Publisher:P.Ohep F./
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2016, Petroleumworld   / Elio Ohep Fitzgerald- All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.