China's top refiner Sinopec Corp. (SNP.NYSE; 00386.HK; 600028.SH) has recorded 208,000 cubic meters of daily output with testing of a shale gas well in Fuling area of southwest China's Chongqing municipality, according to a recent release by Sinopec Group.
Named as Jiaoye-8, the shale gas lies in the outskirt of Jiaoshiba work zone and is 53 km meters in south of Jiaoye-1 well. The successful testing of Jiaoye-8 adds around 100 billion cubic meters of shale gas resources in Pingqiao faulted anticline with an area of 110 square km, according to preliminary estimate.
Drilling of Jiaoye-8 well was started on August 30, 2014 and competed in May with depth of 4,654 meters and 1,507 meters of horizontal part. Testing of Jiaoye-8 well was carried out on August 27. Now, wellhead pressures are stable with stable output. Jiaoye-8 well would offer import support to build 5 billion cubic meters of shale gas production capacity in the second phase.
Sinopec Corp. is targeted to form 5 billion cubic meters and 10 billion cubic meters of shale gas production capacity in Fuling area by the end of 2015 and 2017, respectively.
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