The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
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Beijing: State-owned Chinese leading oil refiner, Sinopec, announced this weekend that the company had completed the purchase of 50% of Chesapeake’s stakes in its Mississippi oil and natural gas assets for $1.02bn.
Sinopec acquires 425,000 acres in the Mississippi Lime shale formation, with estimated proven and probable oil equivalent of 245m barrels.
Chesapeake is the second-largest natural gas developer in the US. The Mississippi Lime oil and natural gas assets is located in northern Oklahoma.
Along with the rapid development of China's energy industry, China Oil & Gas Pipeline network is experiencing unprecedented great structure, large-scale construction and giant leap. Read More >
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