China Petroleum & Chemical Corporation (Sinopec) has announced a new discovery of deep shale gas in southwest China, with confirmed geological reserves exceeding 124 billion cubic meters, according to the official Chinese news agency Xinhua.
The company stated that this discovery raises the total proven reserves in the Yongchuan field to approximately 148 billion cubic meters, representing a significant addition to China’s shale gas resources.
The Yongchuan field is classified as a deep shale gas deposit, with its main reservoir located at depths exceeding 3,500 meters within the complex geological structure of the Sichuan Basin.
Earlier in 2024, China recorded the discovery of the world’s first ultra-deep major gas field, with confirmed geological reserves exceeding 100 billion cubic meters of extractable natural gas, highlighting the country’s progress in developing unconventional energy resources.
Exploration Efforts and Production Growth
In recent years, China has intensified its efforts to boost oil and natural gas production, including expanding exploration and developing unconventional resources such as shale oil and gas.
China’s natural gas production reached 130.8 billion cubic meters in the first half of 2024, marking a 5.8% increase compared to the same period last year. Meanwhile, China’s liquefied natural gas (LNG) imports totaled 78.4 million tons in 2024, surpassing Japan by approximately 11 million tons, underscoring China’s growing role as a major player in global energy markets.
