Under the agreement, the two partners hope to establish a synthetic transportation fuels and power industry based on future successful exploration. Both parties are to invest up to $30 million in the exploration phase of the JV.
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Shell Will Extract Shale
International oil and gas Royal DutchShell Thursday agreed to set up a joint venture
International oil and gas Royal Dutch/Shell Thursday agreed to set up a joint venture with the China?s Bureau of Geological Exploration and Mineral Development of Jilin Province to conduct oil shale resource studies in the Northeast China province. Oil shale is a compact rock containing organic matter that yields petroleum when destructively distilled
If shale's reserves are proved commercially developable, the preliminary explorations will be launched. The agreement reflects China's latest efforts to search for oil to ease energy shortages.
Under the agreement, the two partners hope to establish a synthetic transportation fuels and power industry based on future successful exploration. Both parties are to invest up to $30 million in the exploration phase of the JV.
Under the agreement, the two partners hope to establish a synthetic transportation fuels and power industry based on future successful exploration. Both parties are to invest up to $30 million in the exploration phase of the JV.
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