China's Sinopec Taps Large Shale Gas Reserve In Sichuan Exploration Well
10.18.2022 By Ella Keskin - NEWS

October 18, 2022 [Reuters] – China’s Sinopec Corp (600028.SS) has struck a high-yielding shale gas exploration well in southwestern Sichuan basin with daily gas flow of 258,600 cubic meters, the state oil and gas major said on Tuesday.

 

The success of the Jinshi-103HK well could potentially lead to another sizeable shale gas field with geological reserves of 387.8 billion cubic meters, Sinopec said in a statement, without specifying the exact location of the well.

It is Sinopec’s latest breakthrough in tapping the unconventional gas resource after the Weirong field, located near the city of Zigong in Sichuan province, started producing in early 2021 with a a certified proven reserve of 124.7 bcm.

Under President Xi Jinping’s call to boost domestic energy supply security, Chinese national energy champions are accelerating the development of more costly, geologically challenging oil and gas resources.

Companies have also unlocked several shale oil discoveries at eastern and northeastern mature oilfields.

 

 


Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Will Brent Break Below $70 This Year?
03.28.2023 - NEWS
March 28, 2023 [OilPrice.com] – Brent oil prices briefly slumped to $70 per barrel on Monda... Read More
Oil Updates: Crude Price Falls; Goldman Sachs Cuts Brent Oil Forecasts
03.28.2023 - NEWS
March 28, 2023 [ARAB NEWS] – Oil prices fell on Monday to their lowest in 15 months on conc... Read More
Oil Falls in Asian Trade as US Crude Inventories Rise Unexpectedly
03.28.2023 - NEWS
March 28, 2023 [Herald LIVE] – Traders await US Energy Information Administration data and ... Read More
Biggest Oil Traders Avoiding Russian Business
03.28.2023 - NEWS
March 28, 2023 [RIGZONE] – The world’s biggest oil traders say they are still avoiding ha... Read More