CNPC, Sichuan Agree to Develop Shale Gas

China National Petroleum Corporation has signed an agreement with the state of Sichuan for development of shale gas and other unconventional in the province, Sichuan Daily reported.

Sichuan is expected to produce 2 billion cubic meters of shale gas by 2015. The province currently has seven shale gas wells.

As per the agreement several companies may enter into the joint venture.

In March this year, the National Energy Board officially released the "shale gas development plan (2011-2015)” with the aim to develop the sector and attract investment. 

Sichuan is becoming the forefront of shale gas exploration and development, the development of a promising future.