Related Articles
Forward article link
Share PDF with colleagues

Hess and PetroChina set for shale-oil push

US independent Hess and PetroChina have established a joint venture to explore and develop shale-oil reserves in northwest China’s Xinjiang region

The pair will appraise the shale-oil potential of the Santanghu Malang Trough, which spans 1,500 square kms in Xinjiang’s Turpan-Hami (Tuha) basin. The region’s possible and probable shale-oil reserves stand at 357 million tonnes or 2.6 billion barrels, according to a report by the official Xinhua news agency. The figure is almost double estimates given in a study carried out by China University of Petroleum last year for Petro China offshoot Tuha Oilfield Company. Shale-oil reservoirs in Santanghu are believed to lie in the Permian Lucaogou formation, which features complex rock types and alternating layers. It is understood the complexity of the shale poses a substantial technical challe

Also in this section
US tight oil turning over a new leaf?
18 December 2017
A shale sector that emphasised returns over production growth would be a win from both shareholders and oil markets
Latest licensing rounds
13 December 2017
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
East Mediterranean—a mixed bag
12 December 2017
While Egypt's gas output is set to soar, Cypriot and Israeli exports are being curtailed by regional politics and low prices. It's a mixed outlook for East Mediterranean gas