Sinopec Strikes Gas in Sichuan Province

China Petrochemical Corporation (Sinopec) announced earlier this week that it found large natural gas reserves in the Yuanba gas field of southwest China's Sichuan Province.

Initial estimates suggest reserves to contain 828.628 billion cubic meters of gas. The nine wells that will be built on the drill sites are expected to each have daily yields in excess of one million cubic meters.

The entire Yuanba gas field is likely to produce 1.7 billion cubic meters of purified gas a year by the end of 2013. The company also expects output to double by the end of 2015.

Sichuan Basin is reported to contain the largest natural gas reserve in China.