CNOOC, Giec to Develop Gas Hydrate

China National Offshore Oil Corporation (CNOOC) had wrapped up a contract with Guangzhou Institute of Energy Conversion (Giec) under Chinese Academy of Sciences to study and develop natural gas hydrate.

At present, China has found sizeable reserves of gas hydrate in the South China Sea, which is predicted to equal to half of the country’s oil reserves. But it still does not get a sample due to the lack of necessary techniques.