Release Date: 07-Feb-2013
The 16 successful bidders for shale gas blocks in china will invest more than US$ 2 Billion in shale gas exploration over a period of next three years. 14 state owned companies and 2 private firms won exploration and production rights for 19 shale gas blocks in China during second round of auction in 2012-13. The second round of auction saw 83 firm’s submitting more than 150 bids for 19 shale gas blocks auction in china.
China’s enormous shale gas resource has been mainly found in the Sichuan or South China and Tarim basins, but a lot is also scattered all over the region. The commercial viability of these reserves is a major concern. Nonetheless, they will be explored at a later stage to determine the amount of hydrocarbons present. For convenience, the reserves can be divided into four regions, North China, South China, Northwestern and Northeastern China. In these four regions, shale deposits have been found in eight basins viz. Songliao basin, Bohaiwan bay, NorthChina, Sichuan or the South China basin, Ordos basin, Tuha Basin, Zhungaer basin and Tarim Basin. Out of these, North China, Sichuan (South China) and Tarim basins are Marine Deposits and the rest five are Continental Deposits.
For more information visit “China Shale Gas Industry Analysis”.