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According to "Natural Gas Intelligence" news on Thursday (June 2), BP (hereinafter referred to as) officially announced that it has signed a contract with China National Petroleum Corporation (hereinafter referred to as PetroChina) The second agreement is for the exploration, development and production of shale natural gas resources in the Sichuan Basin.
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This production sharing contract has actually been signed at the end of this year, covering an area of approximately square meters in the northern part of Rongchang District, Chongqing Kilometer blocks. Their first contract was finalized in January this year, aiming to explore and develop the Neijiang Dazu shale block near the Sichuan Basin. As with the first contract, PetroChina will be responsible for the specific implementation of the Rongchang North Production Sharing Contract. CEO Dudley said
After the signing of the Jiangdazu contract in Neiyue, the cooperation with PetroChina was quite successful, and the second contract was based on this foundation. PetroChina has professional operational skills and advantages in technology and experience. Now that the two parties are joining forces, the two parties will increase synergy in the development of these shale blocks. It is clear that this new contract demonstrates the determination to continue investing in Chinese natural gas projects, which will have long-term value to PetroChina and even China.
As early as last year, it was decided to join hands with PetroChina, and this latest contract will undoubtedly add to the strategic cooperation between the two parties in energy projects. In addition to the exploration and development of unconventional resources, last year's framework agreement also covered domestic fuel retail joint ventures, global trading opportunities for oil and liquefied natural gas, carbon emissions trading, and the sharing of low-carbon energy knowledge and management experience.
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