China National Petroleum Corp. (CNPC) has discovered a new oil field in the Erdos Basin in the northern Chinese region of Inner Mongolia, with proven geological reserves of more than 1 billion tonnes shale oil, Xinhua reported June 20.
The new oil field, Qingcheng, is part of CNPC’s Changqing oil field and is China’s biggest shale oil field discovered by far in terms of proven geological reserves scale, the state-backed news agency said.
With rapid development in the region, shale oil production at Changqing oil field is likely to reach 3 million tonnes per annum by 2025, Xinhua said
CNPC on June 18 also announced a 1 billion tonne super-deep oil and gas resources discovery in Tarim basin in Xinjiang region.
Recommended Reading
Qnergy Tackles Methane Venting Emissions
2024-03-13 - Pneumatic controllers, powered by natural gas, account for a large part of the oil and gas industry’s methane emissions. Compressed air can change that, experts say.
SEC Adopts Climate Disclosure Rules in 3-2 Vote
2024-03-06 - The regulation requires companies to disclose Scope 1 and 2 emissions, weather-related risks and other climate-related data that could have a material business impact.
MethaneSAT: EDF’s Eye in the Sky Targets E&P Emissions
2024-03-07 - The Environmental Defense Fund and Harvard University recently launched MethaneSAT, a satellite tracking methane emissions. The project’s primary target: oil and gas operators.
Exclusive: Scepter CEO: Methane Emissions Detection Saves on Cost
2024-04-08 - Methane emissions detection saves on cost and "can pay for itself," Scepter CEO Phillip Father says in this Hart Energy exclusive interview.
Keeping it Tight: Diversified Energy Clamps Down on Methane Emissions
2024-04-24 - Diversified Energy wants to educate on emission reduction successes while debunking junk science.