China Finds Two Large Oil Fields in 2016


China made new discoveries in oil and gas exploration last year, concentrated in central and western basins and sea areas, like Ordos, Sichuan, Dzungaria and Tarim, according to the Ministry of Land and Resources of China. While keeping rapid growth in oil reserves, Ordos Basin is home to two new hundred-million-ton scale oil fields (Nanliang and Huanjiang), linking Xifeng and Zhenbei oil fields to form the one-billion-ton Longdong oildom.
China chalked up 914 million tons of newly proved geological oil reserves in 2016, the first year in a decade to score less than one billion tons.
As for natural gas, newly proven geological reserves in 2016 amounted to 726.56 billion cubic meters, exceeding 500 billion cubic meters for the fourteenth consecutive year. Of the total, 311.1 billion cubic meters, or 40%, was found in the Sulige area (Ordos, Inner Mongolia), and 152.8 billion cubic meters was found in the Anyue gas field (Sichuan Basin).