Shell Scores China's First Shale Gas Sharing Deal

Law360, New York (March 21, 2012, 5:30 PM EDT) -- The Chinese arm of oil and gas behemoth Royal Dutch Shell Plc has snagged the country's first shale gas production sharing contract in a joint venture with state-owned China National Petroleum Corp, Shell announced on Monday.

The two energy players have agreed to partner up in the exploration, development and production of a block in the Sichuan Basin, Shell said. Financial details of the deal, which is pending government approval, were not disclosed.

"We are delighted about this new milestone in our strategic cooperation with CNPC....
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