PetroChina plans to further tap shale gas

PetroChina, China's largest oil and gas producer, plans to produce 2.6 billion cubic meters of shale gas in 2015, said Sun Longde, the company's vice president, on Monday. The Changning and Weiyuan blocks in southwest China's Sichuan Province will each produce 1 billion cubic meters of shale gas. The Zhaotong block in southwest China's Yunnan Province will produce 500 million cubic meters, Sun said at a meeting on shale gas exploration in southwest China's Chongqing. PetroChina has ten shale gas wells in operation or under construction and plans to have 164 in 2015, Sun said. Meanwhile, the company aims to produce 11 billion cubic meters of shale gas in 2020, the vice president said. China is at a preliminary stage in shale gas exploration and needs to improve technology and cut costs, said Wang Min, vice minister of land and resources, at the meeting.