 |
Agip Set to Explore Natural Gas in Northwest China
The Italy-based Agip, a leading petroleum firm in the world, opened a representative office in Xining, capital city of Qinghai Province, recently to implement a Sino-Italian agreement on risk prospecting of natural gas at the center of Qaidam Basin.
The group is to invest US$8 million to co-develop an oil and gas field at the Sebei area of Qinghai Oilfield with the Chinese side.
To date, six gasfields with a proven reserve of 130 billion cubic meters of gas have been identified at the Sebei area, which covers an area of 6,998 sq. km at Qaidam Basin.
Sebei is considered to have enormous potential in deep-layer gas prospecting. Due to the lack of funds and advanced technology, Qinghai found it difficult to develop oil and gas resources in the region.
In addition to the Sebei project, Agip is cooperating with Chinese petroleum companies to develop oil resources at the Tarim Basin in northwestern Xinjiang Uygur Autonomous Region and the Bohai Bay in north China.
In This Section
|