BP and China National Petroleum Corp (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. This is BP’s first shale gas PSC in China and the block covers around 1,500sq km, with CNPC being the operator. “We are pleased to reach this significant milestone as part of our strategic partnership with CNPC, building on our successful cooperation in and outside of China,” said BP’s chief executive Bob Dudley. “We are looking forward to working together with CNPC on technology, operational and subsurface techniques in unconventional resources.
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