A person familiar with the matter told Dow Jones Newswires that Exxon Mobil and PetroChina are discussing the joint exploration and development of an unconventional natural gas block in the Ordos Basin in northern China. The Exxon Mobil Upstream Business Group arrived in Beijing in early June and both parties have been negotiating since then.
The person familiar with the matter said that if the parties reach an agreement, a production sharing agreement will be signed and the evaluation well will be drilled. Another source who did not wish to be named revealed that the above unconventional natural gas blocks have tight gas reserves.
The person familiar with the matter said that if the parties reach an agreement, a production sharing agreement will be signed and the evaluation well will be drilled. Another source who did not wish to be named revealed that the above unconventional natural gas blocks have tight gas reserves.
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