PetroChina in shale exploration talks

Exploration: PetroChina is in talks with Shell and Hess to explore shale oil in the Santanghu basin

State-run PetroChina is in talks with Anglo-Dutch supermajor Shell and US company Hess to explore shale oil in the Santanghu basin in China's northwestern Xinjiang region.

The talks mark the latest effort by Chinese oil companies to beef up their capability in shale oil and gas exploration by tapping foreign expertise, as well as the ongoing interest of overseas players to enter the world's top energy consuming market.

"The main goal of the cooperation is to introduce advanced technology, production and management methods in unconventional oil and gas exploration and development ... and to accumulate technology and experience," the China Petroleum Daily reported, which is the company-owned newspaper of PetroChina parent company, China National Petroleum Corporation (CNPC).

The…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index