Can ConocoPhillips Frac the Chinese Code
Sep 15th 2012 1:24PM
Updated Sep 15th 2012 1:30PM
ConocoPhillips is the new entrant in the Chinese shale play sweepstakes and, as China finally opens drilling blocks for bid to international firms, the question of feasibility still looms heavily over the prospect. Sure, the country has shale reserves that are greater than those found in North America, but a number of problems still persist. The first problem is finding skilled technologists and resources, both of which are in short supply. If China can find a way to supply the massive amount of water required for hydraulic fracturing, it will still need the qualified manpower and midstream infrastructure to move the oil and gas. ConocoPhillips believes it's up to the task, but the obstacles are heavily mounted against the company on its quest for another massively successful operation there.
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