Friday 13 January 2012

China starts first shale project

China National Offshore Oil Corp (CNOOC) has reportedly begun preparatory work on its first onshore shale project. The Chinese giant is said to be exploring a 4,800- square kilometre block in the east of the country.

According to Reuters, China has set a target to pump 6.5 billion cubic metres by 2015 and 80 bcm by 2020, the equivalent of around 80% of the country's total gas output in 2011.