? ?
/ Page 1
PetroChina to double proven reserves
By Wang Yu
Updated: 2007-09-24 07:00
The biggest oil discovery in the country for a decade will contribute
more proven reserves in five to six years, PetroChina's chief geologist
has said.
"We estimate that, eventually, we could have proven reserves of as much
as 1 to 1.6 billion tons (oil equivalent) from the offshore blocks of our
Jidong Nanpu oilfield in the Bohai Bay area," Jia Chengzao,
vice-president of PetroChina and academician at the Chinese Academy of
Sciences, told the China Oil and Gas forum on Saturday.
"Including reserves from onshore, the ultimate proven reserves of Nanpu
oilfield are expected to hit around 2 billion tons."
The Jidong Nanpu oilfield has combined proven, probable and possible
reserves of 1.18 billion tons of oil equivalent, the Ministry of Land and
Resources certified in August. The present proven reserves are certified
at 445 million tons oil equivalent.
It may take approximately five to six years to confirm the new reserves,
and exploration efforts will be made simultaneously with extraction work
on current proven reserves, Jia told China Daily on the sidelines of the
forum.
"Clearly at Nanpu, the offshore sector boasts larger potential than the
onshore part To reach the 10 million ton annual output target by 2012,
the current proven reserves are enough," Jia said.
Zhai Guangming, a renowned geologist with the Chinese Academy of
Engineering, recently said current exploration efforts have tapped less
than half of Bohai Bay's potential.
As exploration goes deeper, more oil and gas discoveries will be made to
partly meet surging local energy demand, Wang Tao, chairman of China
National Committee of World Petroleum Council, said at the forum.
Official estimates show that the country may boast 65 billion tons of oil
reserves, and about 25 trillion cubic meters of natural gas.
But the problem is that only a small percentage have been proven,
according to Wang, former minister of the petroleum industry.
"If even half of the resources are exploited, the reserves will jump,"
Wang said.
The geologist revealed that recoverable oil resources stand at 25.5
billion tons, with only 7.363 billion proven.
"The proven rate is low and there is still a large potential to tap,
which means it is still possible for giant oilfields to be found," Jia
said.
More locally produced oil and gas will reduce dependence on energy
imports.
Net oil imports rose 4.1 percentage points year on year to 47 percent of
total consumption last year, according to the Ministry of Commerce.
Last year, the nation produced 183.68 million tons of crude oil, up 1.7
percent, and imported 138.84 million tons, up 16.9 percent. Oil
consumption (crude plus oil products) amounted to 346.55 million tons, up
9.3 percent.
(China Daily 09/24/2007 page1)
?
?
China Daily PDF Edition
?
Learn Chinese, Learn Mandarin online, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, Beijing 2008 Olympics, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing,
No comments:
Post a Comment