BP and China National Petroleum Corporation (CNPC) have signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China. The contract is BP’s first shale gas PSC in China and covers an area of approximately 1,500 square kilometres. CNPC will be operator for this project. This is said to be a significant milestone as part of BP’s strategic partnership with CNPC, building on their successful cooperation in and outside of China. BP are said to be looking forward to working together with CNPC on technology, operational and subsurface techniques in unconventional resources. BP bring their worldwide experience to their first unconventional gas project in onshore China with CNPC and by combining with CNPC’s knowledge and experience will bring gas to China’s growing clean energy market. China continues to be an important part of BP’s portfolio.
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