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China discovers huge oil reserves

Sinopec, the world's largest oil producer, reportedly discovered an oil field with 1.7 billion tonnes of reserves during an exploratory effort in the Shunbei oil and gas field, which is located in the Tarim Basin, Northwest China's Xinjiang region.

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During an exploratory effort in the Shunbei oil and gas field, which is located in the Tarim Basin, Northwest China’s Xinjiang region, the world’s largest oil producer Sinopec reportedly found an oil field with 1.7 billion tonnes of reserves.

According to Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, the country typically uses about 800 million tonnes of oil annually, so the reserves can cover domestic oil demand for about two years, though he added that not all of the oil that has been discovered can be extracted.

According to China Media Group, the new oil field is among the deepest commercial oil and gas fields in the world, with an average depth of 7,300 metres.The exploration programme includes a directional well that is 9,300 metres deep, 76 wells that are between 7,500 and 8,000 metres deep, and 41 wells that are over 8,000 metres deep. The term “subterranean Qomolangmas” refers to these wells.

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According to Sinopec, the business has built four oil and gas fields in the Tarim Basin, each with a capacity of over 100 million tonnes, and 15 wells with a daily capacity above 1,000 tonnes and a depth of 8,000 metres.

Oil and gas are plentiful in the Tarim Basin. Of China’s total oil and gas resources, the resources found between 6,000 and 10,000 metres underground in the basin make up 83.2 percent and 63.9 percent, respectively. According to Lin, the basin’s oil and gas resources can fulfil.According to Lin, the oil and gas resources from the basin can supply all of the nation’s needs for the following ten years.

 

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