PetroChina Xinjiang introducing foreign companies to jointly develop shale oil

Immediately after the shale gas revolution, with a non-conventional oil and gas resources in shale oil (tightoil, ie foreign definition of "tight oil") is on board the world's energy center stage. As crude oil importer after the United States, also has a large number of  Unconventional gas  resources in China would also like to shale oil extraction on the difference.

July 23, CNPC signed with U.S. oil and gas enterprises in Xinjiang Basin Malang Santanghu block cooperation agreement, which marked Santanghu shale oil development international cooperation to open the curtain.

Like with shale gas and shale oil extraction on the critical technologies and also the hydraulic fracturing of horizontal wells.Proppant The current global scale using the above techniques can be unconventional oil and gas exploration areas in North America only. China so far has not yet achieved large-scale commercialization of shale gas exploitation.

Last year, early in April, PetroChina Tuha Oilfield Group approved the agreement with the two international oil companies to develop three Santanghu shale oil. According to the website of oil formulation, concrete forms of cooperation as follows: In the exploration phase,fracturing proppant the total investment by foreigners, at your own risk; development period, joint investment, pro-rata share. Main objective is the introduction of foreign cooperation in the exploration and development of unconventional oil and gas advanced technology, production methods and management.

PetroChina Tuha Oilfield in Xinjiang is the three oilfields, located in Hami, Turpan two administrative regions, 2011 crude oil production 1.55 million tons. Santanghu Tuha basin is the most potential for development of one of the blocks, but the lower grade oil reserves, conventional techniques is difficult for stable production capacity,ceramic ball one million tons of production capacity construction investment is also high, which makes the underground oil reserves have been production is hard to become the ground.