Sinopec finds new shale gas reserves in Sichuan basin
Sinopec has discovered new shale gas reserves in the Jinshi 103HF exploratory well deployed in the Sichuan basin, the company said on October 24.
“With a daily natural gas production reaching 258,600 m3 and an evaluated resource capacity of 387.8bn m3, it is a major breakthrough for China's shale gas exploration, and the first discovery in the Cambrian Qiongzhusi formation,” Sinopec said. “The find has significantly expanded shale gas reserves and will further promote shale gas exploration and production in the Sichuan basin.”
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The Sichuan basin is composed of two main formations, the Longmaxi and Qiongzhusi. The former has seen significant exploration and production including China's first deep shale gas field, Weirong, while Qiongzhusi boasts the most potential for future exploration.
Sinopec Southwest, which operates the project, has implemented new reserves of the scale of over 100bn m3, including Hexingchang Xujiahe, Yongchuan Longmaxi and Jingyan Qiongzhusi formations, Sinopec said.
Its annual natural gas production has increased from 2.82bn m3 in 2012 to 8bn m3 in 2021, with cumulative production of 52.95bn m3, which makes the subsidiary the largest natural gas producer in the Sinopec group.