logo
Share SHARE
FONT-SIZE Plus   Neg

CNPC, Shell Ink First Shale Gas Production Sharing Contract In China

Shell China Exploration and Production Co. Ltd., a subsidiary of Royal Dutch Shell Plc (RDS-A, RDSA.L, RDSB.L, RDS-B), said the company and China National Petroleum Corp., or CNPC, signed a production sharing contract for shale gas exploration, development and production in the Fushun-Yongchuan block in the Sichuan Basin, China.

Shell stated that the contract area covers around 3,500 square kilometres. The company added that it will apply its advanced technology, operational expertise and global experience in the project to jointly develop the shale gas resources with CNPC.

Peter Voser, chief executive officer of Royal Dutch Shell, said, "China has huge shale gas potential and we are committed to making a contribution in bringing that potential into reality."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Millennials rely more on social networking site Facebook Inc. (FB) for their political news than Baby Bloomers, a survey released by Pew Research Center showed. Data storage firm NetApp Inc. (NTAP) Monday said Chief Executive Officer and Chairman Tom Georgens has stepped down. The company has appointed George Kurian, executive vice-president of product operations, as the new CEO. Georgens' resignation comes just couple of weeks after NetApp reported a fourth-quarter... Apparel maker PVH Corp. said Monday after the markets closed that its first quarter profit rose sharply from last year, when results were weighed down by debt modification and extinguishment costs. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
Follow RTT