Print 
Shell has jointed forces with Sinopec for a new joint venture targeting China's unlocked shale deposits, according to a report by Reuters.
Both companies confirmed the joint venture, but offered little details on specifics of the agreement. However, it was revealed that the JV will focus on tapping into the Dongying Trough, which is located in the Bohai Rim Basin.
There has been sparse activity in recent years focused on China's shale deposits due to the difficulty of development. Sinopec first delved into shale development back in 2011.
More Deals - Joint Ventures News
Schlumberger, Aker Solutions Ink Subsea-Focused JV
Schlumberger, Aker Solutions and Subsea 7 announced an agreement to form a joint venture focused on subsea optimization. The proposed joint venture will combine Schlumberger’s and Aker Solutions’…
California Resources Second Quarter 2022 Results
California Resources Corp. reported second quarter 2022 operational and financial results. The company also announced the formation of a joint venture with Brookfield Renewable, creating a carbon management…
Equinor to Exit Russian JVs, Halt New Investments in Country
Equinor's Board of Directors has decided to stop new investments into Russia, and to start the process of exiting Equinor’s Russian Joint Ventures. Anders Opedal, President and CEO…
Talos, Storegga Partner for Carbon Capture Storage Project in GOM
Talos Energy Inc. has formed an exclusive joint venture with Storegga Geotechnologies Ltd. to source, evaluate and develop carbon capture and storage (CCS) project. The JV will evaluate…
ExxonMobil, Petronas Tout Discovery Offshore Suriname
ExxonMobil and PETRONAS have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname. The well was drilled by operator PETRONAS to a total depth of…
Asia - Southeast Asia News
Murphy's Hai Su Vang appraisal success strengthens Vietnam upside case
Murphy Oil delivered a meaningful positive update from offshore Vietnam, confirming that its Hai Su Vang (HSV) discovery is becoming both bigger and better defined. New appraisal results…
Pan Orient Cancels Drilling of Akeh-2 Appraisal Well
Not possible to justify the expenditures required for the drilling of an Akeh-2 appraisal well