Gulf Oil and Gas accountACCOUNT

CNPC & BP Sign Neijiang-Dazu Shale Gas PSC

Source: www.gulfoilandgas.com 4/1/2016, Location: Asia

Share |
In the presence of CNPC Chairman Wang Yilin and BP CEO Bob Dudley, a production sharing contract (PSC) for the Neijiang-Dazu shale gas block of Sichuan Basin was inked between CNPC and BP in Beijing. Mr. Wang Yilin had a meeting with Mr. Bod Dudley before attending the signing ceremony, and spoke highly of the cooperation results of the two sides under the tough situation brought by low oil prices.

The contract is BP's first shale gas PSC in China and covers an area of approximately 1,500 square kilometers. CNPC will be the operator for this project. The PSC is the first achievement under the strategic cooperation framework agreement which was signed between the two companies last October during the Chinese President Xi Jinping's state visit to the UK.

In addition to unconventional resources, the framework agreement covers possible cooperation in fuel retailing ventures in China, oil products and LNG trading globally, and carbon emissions trading as well as sharing of knowledge around low carbon energy and management practices.

CNPC and BP have been cooperating in retailing business in China, upstream activities overseas, and international trading. In the future, the two companies will promote collaboration in technology, operational and subsurface techniques in unconventional resources.

Shale Gas News in China >>

China >>  5/31/2018 - TechnipFMC has been awarded a subsea contract by CNOOC Limited for the Liuhua 16-2, 20-2 and 21-2 Oilfield Joint Development Project in the South Chin...
Azerbaijan >>  5/30/2018 - On 30th of May State Oil Company of Azerbaijan Republic (SOCAR) and Statoil Azerbaijan, part of Norway’s Equinor group signed a Risk Service Agreement...

Vietnam >>  5/28/2018 - Jadestone Energy Inc. (JSE) (Jadestone) has received approval from Vietnam’s Ministry of Industry and Trade (MOIT) of its Outline Development Plans (O...

Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


China Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

Oil & Gas Projects in China >>

More News

 

Oil & Gas Companies in China >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.