Send
Print
David290
This is the initial area certified by China's Ministry of Natural Resources, showing confirmed shale oil reserves that surpass 100 million tons. The area is situated in the Jiyang area of the Shengli oil field.
The shale oil reserves in the Jiyang zone are currently estimated to be 10.5 billion tons.
"The shale oil reserves in Shengli are comparable to the conventional oil and gas reserves found in the same area for over 60 years," stated Sun Yongzhuang, Sinopec’s assistant president and executive director of Shengli Petroleum Administrative Bureau Co.
The Shengli field was found in 1961 and development started in 1964.
Sinopec aims to boost shale oil output to 2 million tons annually by the conclusion of the 15th Five-Year Plan (2026-2030), with yearly increments in discovered reserves surpassing 100 million tons throughout this timeframe.
Official data indicates that China's oil production in 2024 increased by 1.8% to reach 213 million tons. The production of shale oil rose by over 30% to reach a historic total of 6 million tons.
China, a leading global oil consumer, holds the third position worldwide for recoverable shale oil reserves.
source: english.news.cn
The shale oil reserves in the Jiyang zone are currently estimated to be 10.5 billion tons.
"The shale oil reserves in Shengli are comparable to the conventional oil and gas reserves found in the same area for over 60 years," stated Sun Yongzhuang, Sinopec’s assistant president and executive director of Shengli Petroleum Administrative Bureau Co.
The Shengli field was found in 1961 and development started in 1964.
Sinopec aims to boost shale oil output to 2 million tons annually by the conclusion of the 15th Five-Year Plan (2026-2030), with yearly increments in discovered reserves surpassing 100 million tons throughout this timeframe.
Official data indicates that China's oil production in 2024 increased by 1.8% to reach 213 million tons. The production of shale oil rose by over 30% to reach a historic total of 6 million tons.
China, a leading global oil consumer, holds the third position worldwide for recoverable shale oil reserves.
source: english.news.cn
