Inspenet, December 9, 2023.
The oil field is located in the center-north of the country
PetroChina subsidiary Changqing Oilfield has announced the discovery of an oil field in the country’s north-central Gansu province with reserves that could exceed 100 million tons, according to state reports.
Niu Xiaobing, deputy director of the company, indicated that proven reserves of 50.24 million tons of oil have been identified so far, with an additional estimate of 56.2 million tons in the area.
It should be noted that daily production at the field has reached 504 tons and the annual capacity of the new oil reserve is expected to reach around half a million tons. Changqing Oilfield already operates oil and gas developments in northwest China, with annual production of 65 million tons.
PetroChina Company Limited holds the title of being the leading producer and distributor of oil and gas, playing a leading role in China’s energy industry. Not only is it among the companies with the highest sales revenue in the country, but it is also listed as one of the main oil companies worldwide.
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