Mar. 1, 2010 (China Knowledge) - PetroChina, the nation's top oil producer, is planning to invest RMB 16 billion in Sichuan Province, in a move to boost the oil and gas production in the area, according to a statement released by China National Petroleum Corp, the parent of PetroChina.
PetroChina Southwest Oil & Gas Field Co is stepping up efforts to explore the Longgang gas field, which is expected to be the largest gas field in China. It will also actively explore the oil and gas resources in Xujiahe and Northeast Sichuan in order to ensure the supply in Sichuan and Chongqing as the demand in the two regions is surging.
CNPC plans to build ten large gas storage facilities, which are expected to hold 22.4 billion cubic meters of natural gas in total, said Liao Yongyuan, deputy general manager of CNPC.
The new storage facilities are expected to help solve the gas supply problem in central and Northwest China, which suffered from delayed gas supply last September. CNPC's gas output accounted for around 80% of the country's total output in 2009, amounting to 83 billion cu m, according to an earlier report from China Knowledge.
