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China discovers oilfield with 100 million tonnes of reserves

Updated 10:51, 04-Dec-2023

Changqing Oilfield, a branch of PetroChina, has discovered a large-scale, well-preserved oilfield with geological reserves of over 100 million tonnes in Hongde, Huanxian County in northwest China's Gansu Province.

Located in the western region of the Ordos Basin, the Hongde oilfield has extremely complex geological conditions.

With the help of 3D seismic technology, Changqing Oilfield has been searching for structural oil reserves in the area since June 2021.

It has unlocked high-yield industrial oil flows in 23 wells there, of which three have a daily oil production of more than 100 tonnes, according to Niu Xiaobing, deputy general manager of the Changqing Oilfield company.

So far, Changqing Oilfield has found proven oil reserves of 50.24 million tonnes and estimated oil reserves of 56.2 million tonnes in the area, said Niu.

With the breakthroughs made in oil exploration, the oilfield development has also been accelerated in the area.

"Currently, the new oilfield's daily crude oil output has reached 504 tonnes, and the discovered oil reserves have formed a crude oil production capacity of 500,000 tonnes per year," said Niu.

Previously, Changqing Oilfield built a world-class ultra-large oil and gas field with an annual output of 65 million tonnes in the Ordos Basin.

(With input from Xinhua)

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