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East China Sea to Supply Shanghai with Gas
The Pinghu Oil and Gas Field, the first offshore oil and gas field to go into operation in the East China Sea, is expected to provide a daily gas supply of 400,000 cubic meters for Shanghai, the country's largest metropolis.
The newly-established oil and gas field, close to Shanghai, is co-funded by the Shanghai Municipal Government, the China National Offshore Oil Corp (CNOOC) and the China National Star Petroleum Corp (CNSPC). It was listed as one of the 10 key projects undertaken by Shanghai during the 1996-2000 period, according to CNOOC President Wei Liucheng.
Wei said the Pinghu oil and gas field is rich in gas reserves, and is expected to enhance its gas supply capacity to 1.2 million cubic meters in one year's time.
The field will effectively ease energy shortages in the East China area, particularly in Shanghai,he stressed.
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