Reuters logo
Sinopec expects China shale drilling costs to drop to $50 mln per well from $80 mln
August 25, 2014 / 8:11 AM / in 3 years

Sinopec expects China shale drilling costs to drop to $50 mln per well from $80 mln

HONG KONG, Aug 25 (Reuters) - State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years.

Chairman Fu Chengyu was speaking at the firm’s results briefing after it reported a better-than-expected 36 percent rise in second-quarter profit as an improvement at its refining and marketing businesses more than offset a weakening chemicals division. . (Reporting By Charlie Zhu; Editing by Anne Marie Roantree and Tom Hogue)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below