The drilling programme, to be carried out through 2020, is designed to compensate for declining production in northeastern China, Reuters reported. It is also meant to spur economic development in the province, home to the restive Turkic Uyghur ethnicity.
“I think that the primary factor is to support the central government policy to invest more and support economic development in the west,” Liutong Zhang of WaterRock Energy Economics told the agency.
“A portion of the money would be spent on the logistics, storage tanks, and also downstream gas infrastructure for the southern part of Xinjiang to use natural gas for environmental reasons.”
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
This website uses cookies.