Chinese oil and gas company PetroChina (a subsidiary of China National Petroleum Corporation) discovered significant reserves of shale oil in the country's largest oil field in the city of Daqing in the northeast province of Heilongjiang, the company announced
BEIJING (Pakistan Point News / Sputnik - 25th August, 2021) Chinese oil and gas company PetroChina (a subsidiary of China National Petroleum Corporation) discovered significant reserves of shale oil in the country's largest oil field in the city of Daqing in the northeast province of Heilongjiang, the company announced.
"The projected geological reserves of shale oil in the Daqing Gulong field exceed 1.268 billion tonnes," the company said on its official Weibo account.
The key exploration wells in the area already showed a stable production rate at the level of 30 cubic meters (1059.44 cubic feet) of oil during test runs. This includes the Guye well where oil was extracted for 500 days. The total volume of crude oil production amounts to over 6,000 tonnes, the statement added.
"An important strategic breakthrough has been achieved in the extraction of 'continental' shale oil in the Songliao Basin," the company added.
The Daqing oil and gas field was discovered in 1959 and is today the largest oilfield in China.
