UK supermajor BP is the latest foreign explorer to exit China's shale gas operations, highlighting the difficulties overseas players have had in making profitable investments in the sector, writes Amanda Battersby.
BP had signed production sharing contracts with China National Petroleum Corporation (CNPC) to jointly explore and exploit shale gas in Sichuan province's Neijiang-Dazu and Rongchangbei blocks.
Upstream reported on 14 March that the partners had hit shale gas at the Wei 206-H1 well on Neijiang-Dazu, which flowed 10,000 cubic metres per day of gas.
