Chongqing Energy to Explore Shale Gas in Qianjiang

Chongqing Energy Group and Natural Resources Group signed a memorandum of understanding earlier this month to work together and hasten shale gas extraction in Qianjiang District in China.

Natural Resources Group has an exclusive partner in China, EQT, which is one of the world’s largest companies involved in shale gas exploitation and production.

According to the memorandum of understanding, both sides will strive to complete the signing and approval application by October, and then establish the joint venture in 2013.

The newly-established Chongqing Energy Group Shale Gas Exploitation Co., Ltd. has invited bids on the two-dimensional geophysical prospecting of the shale gas in Qianjiang Shale Gas Area on September 8, 2013, according to newswesite CQNET.

Sinopec Two-dimensional Geophysical Prospecting Co., Ltd., the bid winner is expected to complete the prospecting in 2013, CQNET reported.