China Travel & Tourism News
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Annual oil output to exceed 200 mln tons after 2010
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| 12-Dec-2005 - Xinhuanet |
China's annual oil output is expected to surpass 200 million tons in the 2010-2015 period, and the production capacity will last for at least 15 years, a senior official with the Ministry of Land and Resources said here on Saturday.
Addressing a forum on China's energy market building and energy risk control, Che Changbo, deputy director of the ministry's Oil and Gas Resources Strategic Research Center, said China's proven oil reserve would increase 800 million to one billion tons a year on average between 2005 and 2020.
His estimate is based on the results of a new round of assessment on China's oil and gas resources, which covers 129 basins.
The results indicate that China's natural gas output will move up steadily in the coming 15 years to reach 90 billion or 110 billion cubic meters by 2010, and to 150 billion or 170 billion cubic meters by 2020.
Che predicted that China's oil output will come to 183 million tons this year and natural gas output to 50 billion cubic meters.
The nation's oil and gas exploration will see a new level if new breakthrough can be made in Tarim basin, the East China Sea, the Qinghai-Tibetan area and the South China Sea, Che said.
He advised to strengthen geological academic research on oil and gas exploration and increase input in the sector to enhance exploration technology.
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| 12-Dec-2005 - Xinhuanet |
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