PetroChina Subsidiary Achieves Full Year Shale Gas Production Target

The Changning-Weiyuan national shale gas demonstration zone in Sichuan province developed by PetroChina Southwest Oil and Gasfield Company has already surpassed the shale gas production target set for the full year.

A statement issued by CNPC, the parent company of PetroChina Southwest Oil & Gas Field Company, on September 18, said as of September 7 total shale gas production from the zone was 1.542bn m³, surpassing the full year target of 1.5bn m³ much ahead of schedule. The Changing-Weiyuan area was recognised as national demonstration zone on shale gas exploration and development by National Energy Administration in March 2012. The zone became operational in January this year.

According to CNPC, full year shale gas output is expected to be 2.1bn m³. Changning-Weiyuan national shale gas demonstration zone currently has production capacity of 2.5bn m³.

PetroChina Southwest Oil and Gasfield Company is a regional company of PetroChina, the listed arm of CNPC. It is mainly engaged in oil and gas exploration and development, oil and gas gathering and transmission, marketing and logistic services business in Sichuan and Xichang Basins.

This year, China has seen strong growth in overall shale gas output. It produced 5.01bn m³ shale gas during January-July, National Bureau of Statistics said on September 1.

Shardul Sharma