Sinopec to Explore Yuanba Field

Sinopec Exploration Southern Company of China has confirmed a significant deposit of about 160 billion cubic meters of proven gas reserves in Yuanba gas field in the Sichuan province.

The deposits are believed to be lying nearly 7 kilometers underground.

In April Sinopec spoke of unearthing 875.3 Bcm of geological natural gas reserves in the block.

The total reserves could reach 828.63 Bcm, taking the forecast reserves into account, said Sinopec Exploration Southern general manager Guo Xusheng.

The planned annual output capacity of the field containing 159.25 Bcm in an area of 155.33 sq km has been pegged at 3.4 Bcm by 2015.

The Chinese giant, which has been developing the Yuanba field since 2006, formally began development and construction of the gas field in late August.

Source: Xinhua