CNPC Reports New Oil Field Discovery In Western China - Xinhua

China National Petroleum Corp (CNPC) discovers a new oil field, according to the official Xinhua News agency.

Reuters

BEIJING, Dec 1 (Reuters) – China National Petroleum Corp (CNPC) discovered a new oil field with about 520 million tonnes of crude reserves in place, the official Xinhua News agency reported on Friday, citing officials from PetroChina.

The discovery sits in the Juggar Basin of the Xinjiang region in western China, Xinhua said.

Oil majors such as PetroChina and CNOOC are ramping up their upstream exploration efforts as domestic production from aging wells continues to fall.

The PetroChina officials said it also increased production capacity at its Xinjiang oilfield by 1.38 million tonnes this year, or about 27,000 barrels per day.

CNPC is the parent company of PetroChina.

(Reporting by Meng Meng and Aizhu Chen; Editing by Christian Schmollinger)





Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Source link

NO COMMENTS

LEAVE A REPLY