Sinopec and BP join hands to explore shale gas in China

Sinopec Group is in talks with British Petroleum (BP) over potential co-operation in exploring and developing shale gas in China. The news has been confirmed by Sinopec on January 18, 2009.
Sinopec said, "The negotiations were going smoothly. This initiative would help China use advanced foreign concepts and technologies to speed up the development of China's potentially large shale gas reserves."

Sinopec has classified a 2,000 sq km area in Kaili, Guizhou and a 1,000 sq km area in Huangqiao, Jiangsu as possible co-operation area.