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News

Chevron explores for gas in Chongqing

2 December 2009
PetroChina is to join forces with US oil giant Chevron Corp to explore for natural gas in Chongqing’s Kaixian county, reported China Knowledge. The project is designed to ease the natural gas shortage in Chongqing, with the estimated output expected to be equivalent to the city’s entire consumption.

Earlier in November, the National Development and Reform Commission approved the Luojiazhai gas field project in Dazhou, Sichuan province, involving the same two companies. It is the largest onshore petroleum and natural gas joint venture project in China, with a total investment of US$6bn. PetroChina has a 51 per cent stake in the project, while Chevron owns the remainder.
     
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