The new round of survey on land and resources of China confirms that the Qiangtang Basin on the Tibet Plateau is rich in oil and gas reserves. It will be the region with the brightest outlook for oil exploration and will probably become a new base for China's oil and gas industry.
Over the past decades, Chinese geologists have conducted all-round preliminary investigations, studies and researches on the Qiangtang Basin, which deepens understanding of the evolution of the basin and help appraise the potential of the gas/oil reserves. The Qiangtang Basin is still the least exploited basin in the Chinese mainland so far.
The researches show hydrocarbon source rock at the basin is thick and well developed, which lays a robust material basis for a big oil/gas field.
A petroleum-bearing belt extending 100 kms is discovered to the south of the Qiangtang Basin at the same time, which serves as a proof that the basin has undergone a process of gas/oil gathering
Covering an area of 160, 000 square meters, the Qiangtang Basin is a marine facies basin, the geological land type from which most of the world's gas and oil resources are derived. The oil fields at the Middle East and the Caspian Sea are of the same geological type with that of the Qiangtang Basin.
By People's Daily Online