Total to drill for shale gas with Sinopec in China

Total (TOT +0.8%) plans to seek shale gas with Sinopec (SNP -0.4%) by drilling in Anhui province, moving the European energy company closer to exploiting Chinese reserves.

The companies will drill for gas this year and next in the 1,500 sq. mile Xuancheng permit near Nanjing after carrying out two-dimensional seismic surveys in the five months through February.

China has set a national output target of 6.5B cubic meters of shale gas by 2015, and as much as 100B cubic meters by 2020.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs