China is hoping the policy framework it has put in place for unconventional oil and gas development will encourage fresh investment by oil companies, spurring a major increase in production.
Han Zheng, the deputy director of the Oil & Gas Resources Strategic Research Centre of the Ministry of Natural Resources, told a recent industry gathering in Beijing that if the government policies are properly implemented, China could be producing at least 130 million tonnes of oil equivalent (about 955 million barrels of oil equivalent) of unconventional oil and gas by 2030.
