Weirong is a producing unconventional gas field located onshore China and is operated by China Petroleum & Chemical. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Weirong. Buy the profile here.
An expansion project is associated with the Weirong, namely the Weirong Phase II. This project is currently in the construction stage, expected to start in 2023.
Field participation details
The field is owned by China Petrochemical.
Production from Weirong
The Weirong unconventional gas field recovered 2.92% of its total recoverable reserves, with peak production expected in 2023. Based on economic assumptions, production will continue until the field reaches its economic limit in 2073. The field currently accounts for approximately 1% of the country’s daily output.
About China Petroleum & Chemical
China Petroleum & Chemical Corp (Sinopec), a subsidiary of China Petrochemical Corporation, is a vertically integrated energy and chemical company. It operates in the oil and gas exploration and production, extraction and marketing; oil refining; and production, marketing, storage and transportation of petrochemicals, chemical fibers, chemical fertilizers and other chemical products. The company also undertakes import and export agency business of crude oil, natural gas, refined oil products, petrochemicals, chemicals and other commodities and technologies. Its product portfolio includes refined oil products such as gasoline, diesel and jet fuel; and petrochemical products that include synthetic resin, synthetic fiber monomers and polymers, chemical fertilizer and petrochemical intermediates. Sinopec is headquartered in Beijing, China.
For more details on the Weirong Unconventional Gas Field, buy the profile here.