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

Editors Pick
Uncertainty has become the name of the game, as the new president is set to assume office. Groundwork is being done for major policy overhauls, with the first step towards repealing the Obamacare taken, as Senators voted 51-48 to approve a budget resolution for achieving the same. The House is set to... A country's productivity is measured by dividing its gross domestic product or GDP in U.S. dollars and normalized to purchasing power parities by the total number of hours worked by the country's workforce in a year. It is considered as a key driver of long-term economic growth and living standards. CLICK... Millennials are earning 20 percent less than their parents did and have accumulated only half the assets than their baby boomer parents, new research showed. According to an analysis of Federal Reserve data by the advocacy group Young Invincibles, baby boomers were much more financially secure than millennials when they were the same age.
comments powered by Disqus
Follow RTT