BP Signs Second Chinese Shale Gas Contract with CNPC
September 01 2016 - 4:22AM
Dow Jones News
By Ian Walker
LONDON--Oil major BP PLC (BP.LN) said Thursday it has signed a
second production sharing contract for shale gas exploration,
development and production with China National Petroleum
Corporation.
The agreement, which was signed on July 27, covers an area of
about 1,000 square kilometers at Rong Chang Bei in the Sichuan
Basin and will be operated by CNPC, BP said.
In March, BP and CNPC signed their first shale gas production
sharing contract on the adjoining Neijiang-Dazu block.
"China is important for global energy markets and for all BP's
businesses. With this new PSC sealed, we want to further expand our
presence in this vital market," said Edward Yang, BP China
President.
"The two recently-signed shale gas PSCs not only underline BP's
continued confidence in the Chinese market, but also reaffirm our
dedication to support China in unlocking its potential for more
sustainable energy development," he added.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
September 01, 2016 04:07 ET (08:07 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
BP (NYSE:BP)
Historical Stock Chart
From Mar 2024 to Apr 2024
BP (NYSE:BP)
Historical Stock Chart
From Apr 2023 to Apr 2024
