New joint venture offering field development, operational and technological support to the Chinese natural gas industry
(Laramie, WY) – WellDog announced today that its new Chinese joint venture is now offering WellDog’s suite of technical services in Shaanxi province, a top energy-producing province in China.
The joint venture caps a three-year effort by WellDog, Shaanxi Provincial Institute of Energy Resources and Chemical Engineering (SPIERCE), and related parties to form a joint venture that increases natural gas production in Shaanxi.
“WellDog’s services are well-suited to helping Shaanxi produce more natural gas,” said John Pope, Ph.D., CEO of WellDog. “With them, operators can reduce uncertainty from the challenges related to complex geology, high reservoir heterogeneity and production economics in China.”
China holds one of the world’s largest unconventional gas resources, but it lags far behind the USA in production volume. Over the last few decades, China has dramatically increased investment in unconventional gas technologies and developments, and each of the country’s five-year plans has increased unconventional gas production targets, but the results to date have failed to meet those goals. Under the current 5-year plan, the Province of Shaanxi has committed to producing 20 billion cubic meters of natural gas.
“Our mission is to improve quality of life through the production of cheap energy, while maintaining the high environmental standards we all deserve,” said James Walker, President and COO of WellDog. “This joint venture enables us to take technologies, services and industry best practices that we have developed around the world for the last 20 years and apply them in China, where energy proliferation and environmental concerns are paramount to the local population.”