Chinese drillers announce two MASSIVE oil & gas discoveries in Northwest China.
China has received an estimated two billion new oil and gas deposits, according to China-Petroleum Corporation (CNPC).
One of the sources was discovered in the Fuman oil field - the largest crude oil production region in the Tarim Basin, northwestern China's Xinjiang Uighur Autonomous Region. It reportedly contains billions of tons of oil and deep gas.
With a drilling depth of about 27,900 meters (8,500 meters) and a test oil range up to 550 meters (550 meters), the pool set new records for the deepest oil production and the highest oil column, and indicates the highest oil availability in the area ten. It is expected to produce four million tons of oil and 49.4 billion cubic meters (1.4 billion cubic meters) of natural electricity annually before 2025.(ads2)
The oil field is one of the world's most difficult mines, as most of the reservoirs are 8,000 feet (8,000 m) below the earth's surface. After its acquisition in 2015, annual production in the area has grown from 30,000 tons to 1.52 million tons by 2020, with an estimated production of 2 million tons since the beginning of 2021.
Another deposit, in the Ordos Basin, also in the northwest, is reported to contain an estimated 100 million tons of shale oil, according to CNPC making it the largest oil field in the country.
Acquired by Changqing Oilfield Co, a company owned by CNPC, is one of the largest finds in the last three years. Two years ago, the factory acquired 359 million tons of shale oil in the Qingcheng region, in the northwestern province of Gansu.
Changqing has been able to significantly expand its range of exploration over the past few years and its recent discovery of billions of tons will be a milestone in China's oil exploration history.
Posts
