Gulf Oil and Gas accountACCOUNT

CNPC Takes Over Changbei Phase I Project from Shell

Source: www.gulfoilandgas.com 1/22/2016, Location: Asia

On January 20, at the turning-over ceremony of Changbei Phase I Project's operatorship held in Beijing, CNPC officially took on the role as operator of the project instead of Shell.

CNPC and Shell signed a contract on gas development and production at Changbei Block in 1999. The block, part of Changqing Oilfield in the Ordos Basin, covers an area of 1,691 square kilometers, and boasts an annual production capacity of 3.3bcm currently. At Changbei project, excellent performance has been achieved in efficient tight gas development, operational safety, key operation index maintenance, operating cost control, and facility reliability. The project is the first to apply extended-reach dual-lateral horizontal well drilling on a large scale in onshore China to tap low-permeability gas reservoirs.

After the take-over, CNPC and Shell will continue to deepen cooperation on the basis of mutual trust and mutual benefit, speed up the Phase II project for capacity building, and ensure the continuous excellent performance of Changbei project.

Acquisitions and Divestitures News in China >>

United Kingdom >>  3/2/2021 - Trelleborg has signed an agreement and finalized the divestment of its offshore operation in Skelmersdale, England. The company is part of the overall...
United Kingdom >>  3/2/2021 - Seaspan Corporation, a wholly owned subsidiary of Atlas Corp., has entered into an agreement to acquire two young, high-quality 15,000 TEU scrubber-fi...

Australia >>  3/1/2021 - Senex Energy Limited has completed the $87.5 million sale of its Cooper Basin business to Beach Energy. The completion of the sale also satisfies the...
Ireland >>  3/1/2021 - Lansdowne Oil & Gas plc (LOGP), the North Celtic Sea focused, oil and gas company, provides a commercial update on Standard Exploration Licence ("SEL"...

United Arab Emirates >>  3/1/2021 - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisiti...
United Kingdom >>  3/1/2021 - Union Jack Oil plc (UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that it has complete...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


China Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in China >>

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.