China Travel & Tourism News
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Proven gas, oil reserves of China's largest marine Paleozoic oilfield tops 500 mln tons
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24-Aug-2005 - Xinhua |
The proven geological reserves of crude oil and gas at the Tahe Oilfield in northwest China has reached 543 million equivalent tons of petroleum, said a source with the Northwest Company of the China Petroleum & Chemical Corporation.
The reserves rank the Tahe Oilfield, located in the northern Tarim Basin in Xinjiang Uygur Autonomous Region, as a super oil and gas field of the country, said Zhai Xiaoxian, deputy general manager of the company.
The company has invested a total of 4.56 billion yuan (about 563 million US dollars) to explore oil and gas in the Tahe Oilfield, he said.
The Tahe Oilfield, the largest marine Paleozoic oilfield in China, has produced 14.21 million tons of crude oil in the past 25 years since the 1980s. With estimated reserves of 10.7 billion tons of crude and 8.39 trillion cubic meters of natural gas, the 560,000-sq-km Tarim Basin has become a major oil and gas supplier and also a strategic energy base for China.
Xinjiang is one of the source regions for China's massive West-to-East Gas Transmission Project, which became operational since the end of last year
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24-Aug-2005 - Xinhua |
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