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Shell drills 17 wells in China, eyes big spend -CEO

Reuters Africa

BEIJING, March 20 (Reuters) – Royal Dutch Shell (RDSa.L: Quote) is drilling 17 wells in China, including for tight gas and shale gas, Chief Executive Peter Voser told Reuters on Sunday.

If the drilling is successful, Shell aims to spend $1 billion a year over the next five years on shale gas in China, he said on the sidelines of a forum, adding that it was already spending $400 million on unconventional gas in China this year.

(Reporting by Chen Aizhu)

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