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China Qaidam Oil Sands Proven

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Lab tests conducted by PetroChina of oil sands samples obtained in Yousha Mountains at Qaidam basin in northwest China determined that the resource is proven economically feasible for further exploration and development. But the report did not give any detail figure for the total reserve of the oil sands in the project.

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JAPEX to invest 65-70B in further oil sands development in Canada

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(JAPEX) plans to invest ¥65-70 billion (US$830–893 million) in its Canadian oil sands projects, Chief Executive Osamu Watanabe told Dow Jones Newswires. China’s biggest offshore oil and gas producer, said it will buy Canadian oil-sands developer OPTI Canada Inc. Oil sands production using SAGD.

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ConocoPhillips to Sell Syncrude Oil Sands Stake to Sinopec for $4.65B

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The transaction is anticipated to close in the third quarter of 2010 once Canadian and Chinese government approvals are obtained. ConocoPhillips remains active in oil sands production through its Foster Creek, Christina Lake and Surmount SAGD (steam assisted gravity drainage) projects.

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PetroChina to Take 60% Working Interest in Two Oil Sands Projects for C$1.9B

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Athabasca Oil Sands Corp. Oil sands projects are very capital-intensive long-term investments and difficult to fully finance in the traditional equity market. As joint venture partners, AOSC and PetroChina International intend to use common in-situ methods to develop their oil sands projects. billion (US$1.7

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Sunshine Oilsands Ltd. and China Oilfield Services Ltd. intend to cooperate on oilsands technology; possible testing of new thermal recovery technique

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COSL is a majority owned subsidiary of Chinese state-owned company CNOOC Group. is one of the largest non-partnered holders of oil sands leases by area in the Athabasca oil sands region. Principal operations are the exploration, development and production of its diverse portfolio of oil sands leases.

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Eni licenses EST technology to Sinopec to convert residues to high-quality light products; eliminating pet-coke and fuel oil

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Eni has now sold the licence and basic engineering project to the Chinese company Sinopec for the construction of a refining plant based on EST. The plant will be built at the Sinopec refinery in Maoming, in Guandong province, and is due to be completed by 2020. Eni slurry technology: A new process for heavy oil upgrading.” 614-622.

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Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

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Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. The two offshore oil and gas PSCs with CNOOC are for blocks 62/02 and 62/17 in the Yinggehai Basin.

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