China National Petroleum Corporation has made an oil and gas discovery with reserves estimated at 900 million tons, Chinese media reported . The discovery was made after six years of exploration work in the Tarim Basin in the Xinjiang Uygur Autonomous Region, northwestern China. The geology of the formation is challenging, the report said, requiring ultra-deep drilling, at a record 8,470 meters. “We have grasped the geological rules of oil and gas reservoirs,” said the general manager of Tarim Oilfield Company, Yang Xuewen. “In Fuman Oilfield, we have successively drilled 56 100-ton wells and found a new oil reserve area of 1 billion tons (about 907 million tonnes). This has been the largest discovery of oil exploration in the Tarim Basin in the recent decade.” The Tarim Basin is the largest oil and gas deposit in China, with discovered oil and gas reserves reaching 16 billion tons. Production of […]