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Shell has jointed forces with Sinopec for a new joint venture targeting China's unlocked shale deposits, according to a report by Reuters.
Both companies confirmed the joint venture, but offered little details on specifics of the agreement. However, it was revealed that the JV will focus on tapping into the Dongying Trough, which is located in the Bohai Rim Basin.
There has been sparse activity in recent years focused on China's shale deposits due to the difficulty of development. Sinopec first delved into shale development back in 2011.
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