ExxonMobil seeks China’s unconventional energy resources

30 March 2011 09:31  [Source: ICIS news]

SHANGHAI (ICIS)--US’s energy giant ExxonMobil plans to develop unconventional natural resources in China to help meet the country’s growing demand for energy, a senior official from ExxonMobil said on Wednesday.

There are definitely a "lot more opportunities" for unconventional resources here in mainland China, said Paul Theys, chairman of ExxonMobil (China) Investment Co and ExxonMobil Hong Kong Ltd.

Unconventional resources refer to coalbed methane, tight gas and shale gas, Theys told  a news conference at the opening ceremony of ExxonMobil Chemical’s Shanghai Technology Center.

“Since we merged with XTO, the US unconventional gas company, ExxonMobil actually is now the largest producer of unconventional gas in [the] US, so we really have a lot of expertise, a lot of experience in this area," he added.

The company was working with Chinese national oil companies to develop these resources, he said.

ExxonMobil was looking for tight gas as well as shale gas opportunities in China’s southwestern Sichuan province.

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By: Judith Wang
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