China Petrochemical Corp, or Sinopec, the world's largest refiner by volume, has acquired crude oil and natural gas from a newly-drilled oil reserve about 8,000 meters deep in the Tarim Basin of Northwest China's Xinjiang Uygur Autonomous Region.

The high-yield reserve in Sinopec's Shunbei oil and gas field is estimated to be capable of producing 244 tonnes of crude oil and 970,000 cubic meters of natural gas each day, the company said Wednesday.

Located in the central and western regions of the Tarim Basin, Sinopec's Shunbei project has an average reservoir burial depth of more than 7,300 meters. It has 41 ultra-deep drilling wells with a vertical depth exceeding 8,000 meters.

Deep and ultra-deep oil and gas reserves account for about 34 percent of China's total oil and gas resources, making them the main field of oil and gas discoveries, according to Ma Yongsheng, chairman of Sinopec.

The new oil and gas reserves discovery, a major milestone in the country's exploration of deep mineral resources, is expected to further improve China's energy supply and help guarantee national energy security, said the company.

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(Source: Xinhua with edits)