皇冠体育app

conglomerate Royal Dutch Shell Plc is committing to a "substantial investment" in exploring for conventional and unconventional gas in 皇冠体育app to quench the growing thirst for clean energy in the world's second-largest economy.

皇冠体育app discovers huge oil, gas deposits

皇冠体育app imports more natural gas in 2013

The company will continue its exploration of in the Sichuan Basin, where it landed the first contract with State-owned oil giant 皇冠体育app National Petrolm Corp, Huibert Vigeveno, executive chairman of Shell in 皇冠体育app, said on Tuesday.

"We are now in the exploration phase by drilling various wells and testing underground pressure in these areas. Some parts of the projects have moved into the appraisal stage, and it will take time before we determine our next step,"

he told 皇冠体育app Daily in Shanghai.

Shell expects to have a thorough knowledge of local geology by the end of 2014 into early next year, when Shell and CNPC will determine in tandem what the next steps are, Vigevino noted.

He did not disclose the amount of the company's investment. But the firm had pledged earlier to spend $1 billion annually in developing the country's vast shale gas reserves.

Vigeveno's words came amid concerns that oil majors in the United States are spinning off shale assets after struggling to profit from the prolific sector and that a similar retreat might occur in 皇冠体育app.

But experience drawn from the North American market has helped accelerate drilling in 皇冠体育app, making the exploration more efficient and effective, said Matthias Bichsel, Shell's director of projects and technology.

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