CNPC begins work on processing plant for Sichuan Basin gasfield
Shanghai. August 11. INTERFAX-CHINA - China National Petroleum Corp. (CNPC), China's largest oil and gas producer, started constructing a gas processing plant in the city of Dazhou in southwestern Sichuan Province on August 5, the company announced in a newsletter on August 11.
According to the newsletter, the plant features three purification facilities and is a part of the company's Luojiazhai Gasfield in the northeast of Sichuan Basin.
The local Kaizhou Daily reported in April that the Luojiazhai Gasfield will be completed by July 2011. With total gas reserves of 59.66 billion cubic meters, it is designed to produce 9 million cubic meters of natural gas per day for 20 years.
In December 2007, CNPC and US-based Chevron Corp. signed an agreement to jointly develop natural gas in the northeastern Sichuan Basin. In April 2008, the companies set up a joint venture (JV) to develop the Luojiazhai Gasfield, with CNPC holding a 51 percent stake of the JV.
In October 2009, the two companies agreed to pick up the pace of development at the gasfield.