BEIJING: PetroChina, Asia’s largest oil and gas producer, has found 308.2bn cubic metres of technically recoverable gas in southwest China’s Sichuan basin, according to parent CNPC, one of China’s largest gas discoveries in more than a decade.
China, the top energy user and fourth-largest consumer of gas, is racing to increase supply of the cleaner-burning fuel by boosting domestic exploration and raising imports, as demand is forecast to nearly quadruple between 2011 and 2030.
The Moxi block of An’yue field was officially certified to hold 440.4 bcm of proven geological reserves, China National Petroleum Corporation (CNPC) said in a report yesterday on its website (news.cnpc.com.cn), citing PetroChina’s Exploration and Development department.
PetroChina is now building a production facility able to pump 4 bcm a year under phase-1 development, which is to be followed by another 6 bcm/year in a second phase, CNPC said.
CNPC gave no timeline for the development and did not say how much it would cost. CNPC and PetroChina officials were not immediately available for comment. The find is “set to provide abundant gas resources to the national gas grids,” said the report.
China’s largest gas find was announced in 2001 at the Sulige field, in northern China’s Ordos basin, also operated by PetroChina. That find held proven geological reserves of 533.7 bcm of natural gas as of 2003.
Reuters
