SINOPEC DISCOVERS CHINA'S FIRST ULTRA-DEEP SHALE GAS FIELD WITH PROVEN RESERVES OVER 100 BCM

Sinopec made another breakthrough in its “Project Deep Earth” by announcing the discovery of the Hexingchang gas field in Sichuan, China. The proven geological reserves amount to 133.012 BCM as validated by the State Ministry of Natural Resources, which marks another integrated, ultra-deep and tight-sandstone gas field of over 100 BCM in China.

Sichuan Basin, located in southwestern China, is known for its abundant natural gas reserves. Sinopec has discovered in the Basin a series of large gas fields, such as Puguang gas field, the largest marine-phase sour gas field in China, Yuanba gas field, the first ultra-deep marine-phase sour gas field in the world of over 7000 meters deep, Fuling shale gas field, the first 10-BCM shale gas field in China, and Weirong shale gas field, China's first deep shale gas field with proven reserves of over 100 BCM. These projects are built upon Sinopec's technological, exploration and development strengths.