China shale gas exploration rights

China shale gas exploration rights

Shell to bid for China shale gas exploration rights
25.1 trillion cu m of exploitable shale gas resources could meet country’s gas demands for 200 years
Royal Dutch Shell Plc is eager to participate in China’s unconventional gas exploitation projects, especially shale gas, Lim Haw-kuang, executive chairman of Shell China Group, said on Tuesday in Shanghai.
“I am anxiously waiting for the second shale gas tender,” he said, adding that Shell is willing to cooperate with the Chinese companies that win the tender.
The Ministry of Land and Resources will open a second public tender for the sale of shale gas prospecting rights later this year.
In March, Shell signed China’s first shale gas production sharing contract with China National Petroleum Corp, the nation’s biggest oil company. Both sides will cooperate to develop and produce shale gas in the Fushun-Yongchuan block in the Sichuan Basin, an area covering about 3,500 square kilometers.

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