China Petrochemical Corporation recently proclaimed that it held a meeting for Fuling-block shale oil and gas exploration and exploitation capacity construction project in Chengdu-based Sinopec Exploration Southern Company, which also indicated Sinopec has officially launched the project.

The project is the first shale oil and gas output capacity construction project in China Petrochemical even nationwide. Implementing of the project will have a positive impact on development of China's shale oil and gas exploration and exploitation. The project is of strategic and practical significance. It is completed by Sinopec Jianghan oilfield and Sinopec Exploration Southern Company. Therein, Jianghan oilfield is mainly in charge of output construction while the other company is principally in charge of exploration and evaluation.

China Petrochemical executives required a feasible plan for the project before May 20 and will officially start operation of the project in early June.