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Chinese Sinopec made a new gas discovery in Sichuan Basin

The company has set a target to become carbon neutral by 2050

Chinese Sinopec made a new gas discovery in Sichuan Basin

Beijing, August 18 - Neftegaz.RU. Sinopec said it has discovered abundant natural gas in Sichuan province.
The proved reserves of newly added natural gas in the Zhongjiang gas field have exceeded 34 billion m3 and the total proved reserves reached 106.1 billion m3.

Sinopec said in a statement:
  • The discovery will help establish China’s 1st 100 billion m3 natural gas production base
The Zhongjiang gas field has produced 5.29 billion m3 of natural gas so far.
For 2 consecutive years, it produced more than 1 billion m3 of gas per year, equivalent of 5.5 million households' daily gas consumption.
The 404.9 km² gas field is characterised by low porosity, low permeability, and strong concealment.

In recent years, Sinopec has successively solved 3 major problems in oil & gas exploration and development:
  • narrow-channel tight gas fields
  • ultra-deep and high-sulfur gas fields
  • deep shale gas fields
The Sichuan Basin is rich in ultra-deep natural gas and deep shale gas resources and is a main front for increasing natural gas reserves and production in the future.

The company has so far developed more than 20 large and middle-sized oil and gas fields in the Sichuan basin, with accumulated natural gas production exceeding 80 billion m3.
Annual natural gas production has exceeded 8 billion m3 so far, benefiting more than 200 million residents in eight provinces, it said.

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