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PetroChina hits the gas in the Sichuan basin

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Report summary

PetroChina has announced its development plan for a giant gas find in its Moxi block in China s Sichuan Basin. Gas in place for the Anyue field have been estimated at 15.5 tcf of gas with 10.9 tcf of technically recoverable reserves. If further development drilling confirm reserves at this scale it would be hugely significant for PetroChina and a vindication of its strategy of focusing on conventional opportunities rather than the much hyped shale potential in the Sichuan Basin.

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