Nation furthers ultra-deep efforts

New consortium established to support oil, gas exploration, ensure energy security

The new consortium set up by the government to search for ultra-deep oil and gas reserves and tackle harder-to-extract non-conventional resources will further ensure domestic energy security, said industry experts.

On Monday, China set up an entity — the Innovation Consortium for Deep and Ultra-deep Oil and Gas Exploration and Development — whose aim is to gather wisdom and build strength to jointly build an industry chain spanning ultra-deep oil and gas exploration to engineering.

The consortium's formation is in response to the government's call to the energy industry to boost new quality productive forces and contribute to the country's energy security, said China National Petroleum Corp.