Singapore—State-owned PetroChina has hiked its shale gas production target significantly and now expects to produce 2.6 billion cubic meters/year in 2015, an increase of 73.3% from an earlier target of 1.5 billion cu m/year made in August last year. Company Vice President Sun Longde said the bulk of PetroChina’s shale gas output next year will come from its Changning and Weiyuan blocks, which will each produce 1 billion cu m/year, Xinhua news agency reported late Monday. In addition, the company’s Zhaotong block in southern Yunnan province is also expected to produce 500 million cu m in 2015, he said. The report did not say where the remainder of production will come from.
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