 |
|
| China makes breakthroughs in oil and gas exploration |
| CCTV.COM 2003-07-27 09:07:45 |
|
China has witnessed significant breakthroughs in oil and natural gas exploration over the first half of this year. The achievements can be attributed to not only the country's abundant natural resources but also the advanced technology applied to the exploration process.
From January to June this year, China has discovered over a quarter billion tons of oil. This is nearly 70 percent of the exploration target set for the entire year. Also discovered was nearly 310 billion cubic meters of natural gas, significantly more than originally planned and a record high within the past five years.
Other major discoveries have also been made in oil exploration. Tens of millions of tons of oil are expected to be discovered during explorations involving the Bohai Sea Basin, the Tarim Basin and the Junggar Basin. Large－scale oil deposits are expected to be found. The exploration of natural gas will take place primarily in the southwestern part of China, with the Sichuan basin as the focus for operations.
Hu Wenrui, general manager of China National Petroleum Corporation, said, "These new finds will help lay a solid foundation for realizing the fast and sustainable development of China's oil industry. Now the major task we face is to improve technology."
According to production rules and past experience, the last quarter of the year will be the peak season for oil and gas exploration. The annual crude oil targets are expected to be exceeded by an additional 100,000 tons, and natural gas targets will likely be exceeded by some 24 billion cubic meters. Therefore, gas supplies from the West to Shanghai are expected to flow smoothly.
|
|
Editor: Xiao Wei CCTV.com
|
|
|
|
|
|
|
