State-owned China Petroleum and Chemical Corp (Sinopec) has started drilling what it says will be Asia's deepest oil and gas well, state media reported Sunday.
Sinopec plans for the Chuanke No. 1 Well in southwest Sichuan province to reach a depth of 8,875 meters -- more than the height of Mount Everest, Xinhua news agency reported.
It will take the company, Asia's largest oil refiner, 676 days and 300 million yuan to complete the project, according to Xinhua.
But if the past is any guide, the work could eventually be in vain.
In July 2006, China completed drilling of the 8,408-meter Tashen No. 1 Well, in the Tahe oil field in northwest China's Tarim Basin -- but discovered no gas.
With existing oil fields drying up each year, China has been increasingly keen to find energy and resources both at home and abroad to fuel what has grown into the world's fourth largest economy.
(US$1 = 7.73 yuan)
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