In the letter signed last week, PetroChina aims to form a joint venture with Sinochem, State Development & Investment and Chongqing Municipal Bureau of Land Resources & Housing Management in June.
The joint venture, to be named Chongqing Shale Gas Exploration & Development Company Ltd, will focus on the blocks currently licensed to PetroChina for exploration in the city. PetroChina has access to five shale gas blocks in Chongqing, covering 20,200 square kilometres that are said to have 13.68
