China’s Sinopec makes major shale gas discovery

China Petroleum & Chemical Corporation, Sinopec, announced a significant shale gas discovery in the country’s Sichuan basin in southwestern China on Tuesday.

With a daily natural gas production of 258,600 cubic meters and an evaluated resource capacity of 387.8 billion cubic meters, Sinopec described the discovery as “a major breakthrough for China’s shale gas exploration”.

The Chinese national oil company said the discovery is also the first discovery in the Cambrian Qiongzhusi formation, adding that the find has significantly expanded shale gas reserves and would further promote shale gas exploration and production in the Sichuan Basin.

-AA