CNPC and Hess sign mainland shale gas deal

The two companies have agreed a production sharing deal to exploit shale resources in northwest China.

CNPC and Hess sign mainland shale gas deal

China National Petroleum Corp has signed a production-sharing agreement with Hess, a US energy company, to jointly develop unconventional gas reserves in northwest China.

Hess will provide expertise gained from its experience in North Dakota’s shale formations to help CNPC, the parent company of PetroChina, to drill the Malang block in the Santanghu Basin in Xinjiang. The two companies have already studied the 800-square-kilometre area and their agreement is the first for a...

To continue reading, please login or register for free

Click for more on: cnpc | petrochina | hess | shale gas | china | production sharing

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...