Shell, CNPC sign shale gas deal in China’s Sichuan basin

21 March 2012 03:02  [Source: ICIS news]

SINGAPORE (ICIS)--China National Petroleum Corporation (CNPC) and Shell China Exploration and Production Co has signed a Production Sharing Contract (PSC) for shale gas exploration, development and production in China’s Sichuan Basin, Shell said on late Tuesday.

The deal, signed on 20 March, was the first shale gas PSC ever signed in China, Shell said in a statement.

The contract area covers approximately 3,500 square kilometers in the Fushun-Yongchuan block, according to the statement.

“We are delighted about this new milestone in our strategic cooperation with CNPC,” said Shell CEO Peter Voser. 

China has huge shale gas potential and we are committed to making a contribution in bringing that potential into reality.”

Shell will apply its advanced technology, operational expertise and global experience in the project to jointly develop the shale gas resources with CNPC, the statement added.

By: Fanny Zhang
+65 6780 4359

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