Shale-gas potential
July 19, 2011, Tuesday
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Print Edition
Print Edition
CHINA Petrochemical Corp has agreed with Exxon Mobil Corp to jointly assess shale-gas potential in southwest China's Sichuan Province as the world's fastest-growing major economy seeks unconventional sources of energy.
A unit of Sinopec Group, as China Petrochemical is also known, and Exxon's Sichuan subsidiary signed a deal to survey the 3,643.59-square-kilometer Wuzhishan area, the Chinese company said in its in-house newsletter yesterday.
China, estimated to hold more gas trapped in shale than the United States, will open new areas to exploration as PetroChina Co's parent and Sinopec Group seek drilling technology through partnerships and acquisitions.
A unit of Sinopec Group, as China Petrochemical is also known, and Exxon's Sichuan subsidiary signed a deal to survey the 3,643.59-square-kilometer Wuzhishan area, the Chinese company said in its in-house newsletter yesterday.
China, estimated to hold more gas trapped in shale than the United States, will open new areas to exploration as PetroChina Co's parent and Sinopec Group seek drilling technology through partnerships and acquisitions.
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