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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

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