Dec 27, 2012
Translated by Zhu Na

Sinopec Group has announced an agreement with ConocoPhillips China to conduct joint research on the exploration and development of shale gas reserves in the Qijiang (綦江) block of the Sichuan Basin.

The cooperation period will be for two years with an exploration block of about 3,918 square kilometers. A Sinopec official said that the partnership will help to improve Sinopec’s shale gas exploration capability and technical expertise. ConocoPhillips plans to drill two wells in the block.

According to provisions by the Ministry of Land and Resources, foreign-funded enterprises are allowed to cooperate with domestic enterprises to develop domestic shale gas. In March this year, China National Petroleum Corporation (CNPC) and Shell announced a similar deal to explore shale gas in the Fushun-Yongchuan block of the Sichuan Basin.

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