Sinopec Starts First Shale Gas Project
Sinopec has started work on its first shale gas project, which is based in Fuling province, in central China.
The company aims to produce about 17.7 billion cubic feet of gas per year by the end of 2012. This number is expected to rise to 35 bcf in 2013.
This will be completed by two subsidiaries of Sinopec, Jianghan Oilfield and Exploration Southern Co. Jianghan Oilfield would responsible for production and output, and Exploration Southern Co. would handle exploratory work.
Earlier this year, China’s Ministry of Land and Resources estimated that the country had recoverable shale reserves of around 886 tcf, though it has been slow to begin exploiting them. The National Energy Administration says that China aims to produce 229 tcf per year of gas by 2015.