China's Sinopec adds certified 165 bcm shale gas reserves

China’s Sinopec (0386) said on Thursday that the Chinese government has certified 165 billion cubic meters (bcm) of gas reserves in a shale field in Southwest China as proven reserves.

The Hongxing field, which straddles Hubei province and Chongqing, targets rock layers about 3.3 km to 5.5 km underground. Complex structural deformation makes exploration and development particularly challenging, the company said.

Sinopec also disclosed last week that China certified a further 124.6 bcm of geological reserves in Yongchuan shale field operated by the company in Sichuan.

Sinopec said it has so far built one deep shale gas field with reserves of around 1 trillion cubic meters in Fuling, along with four 100-bcm-class fields in Weirong, Qijiang, Yongchuan, and Hongxing.

Reuters