CNPC Finds Big Gas Reserve in Sichuan Basin

PetroChina, the listed arm of CNPC, has announced a major gas find in China’s Sichuan Basin.

In a statement published Monday on CNPC website, the company said that 308.2 billion cubic meters of technically recoverable reserves was found in Moxi gas block in Anyue field. The proven reserves stand at 440.385 billion cubic meters.

The company has commenced operation to build 4 bcm a year production facility and this would be followed by a 6 bcm facility.

According to the statement, the average daily production during trial reached 1.1 million cubic meters, and stood at 600,000 cubic meters during development stage. 　

In recent years gas demand in China has seen rapid growth which is being met by imports. The need is to find high quality domestic natural gas sources to meet the burgeoning demand, said CNPC.

This latest discovery will help in meeting China’s energy needs, the company said.

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