EXPLORATION

Eastern provinces yield more oil for China

Reports from the Chinese media indicate the country’s scientists have discovered around 280 million tons of oil deposits in eastern China. The oil was discovered following eight years of studies of the sedimentary rocks around the Shengli oil field.

Eastern provinces yield more oil for China

An official with China’s Ministry of Science and Technology, Yan Jisheng, believes the discovery will help ease China’s ever-growing thirst for oil.

According to Yan, who is responsible for natural resources and environmental development in the ministry, “The six oil deposits around the Shengli Oilfield, believed to be millions of years old, will help ease the country’s oil shortage and sustain the more developed eastern areas.”

The scientists who have made the breakthrough at Shengli also believe around 10 billion tons of sedimentary-based oil deposits may be found at the Songliao, Bohai Bay, Nanxiang, Jianghan and Subei bases. All these areas are in eastern China.

“These new discoveries have eased our anxiety over oil shortages .and we know that we have more oil deposits to support the country’s long-term economic development,” added Yan.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry