China approves Shell-CNPC shale gas PSC

摘要

The Chinese government has approved a production sharing contract (PSC) between Shell and China National Petroleum Corporation (CNPC) for the Fushun-Yongchuan shale gas block in the south-western province of Sichuan – the first of its kind to be approved in the country, Shell confirmed on Tuesday. A spokesman told Gas Matters Today that “there will be a drilling campaign in 2013 and 2014 to evaluate China’s shale gas opportunities”. The announcement follows the initial signing of the Fushun-Yongchuan PSC last March (see Gas Matters Today, March 21, 2012).