China’s proven shale reserves tripled
China
BEIJING, October 8, 2015 – New findings have tripled the estimated size of proven reserves at China’s Fuling project, the country’s biggest shale gas discovery, according to reports from Chinese investor Sinopec.
Located in southwest China’s Chongqing, the report claims an additional 274 bcm (9.7 tcf) of reserves at the project’s Jiaoshiba block. The block’s total reserves now stand at 381 bcm (13.4 tcf), bringing the block’s expected annual production capacity to 10 bcm (353 bcf) by the end of 2017.
The Jiaoye 4 and Jiaoye 5 wells were the latest to be appraised and are located southwest of the previously evaluated Jiaoye 1 and Jiaoye 3 wells.
This falls in line with China’s ambition to enter the shale industry on par with the US’ shale gas boom.
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