BEIJING, May 23 (Reuters) - Sinopec is targeting annual shale gas production capacity of 15 billion cubic metres (bcm) and annual shale gas output of 10 bcm in the southwestern city of Chongqing by 2020, the company said on Monday.
The company unveiled the target when it signed a strategic cooperation agreement with Chongqing city over the next five years, it said on its website (www.sinopecnews.com).
China, believed to hold the world's largest shale gas resources, hopes to replicate the production success of the United States but faces big technological and environmental challenges due to its more complex geology and scarce water.
(Reporting by Beijing Monitoring Desk; Editing by Richard Pullin)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you