PetroChina, ConocoPhillips to study China shale gas development

21 February 2013 03:14  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina said on Thursday it has agreed with US’ ConocoPhillips to look into shale gas development in China.

The two companies will conduct a study to identify unconventional resource reserves in the Neijiang-Dazu of Sichuan Basin, the Chinese energy giant said in a statement.

PetroChina said it will also be acquiring interests in ConocoPhillips’ assets in Western Australia – 20% in Poseidon offshore discovery in the Browse Basin, and 29% in the Goldwyer Shale in Canning Basin.

Financial details on the transactions were not disclosed.

These agreements are still subject to regulatory approvals, according to PetroChina.

By: Fanny Zhang
+65 6780 4359

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