As much as 95.3 million tons of oil was discovered in Tahe Oil Field, Xinjiang, which has surpassed the 2007 estimate by 27%, according to news from the oil field. During that year, Tahe Oil Field finished with 290 million tons in oil reserves.
Tahe Oil Field is located in northern Xinjiang Uyghur Autonomous region: a place abundant with natural resources. It is said that Tahe Oil Field produced 5.4 million tons of crude oil and 950 million standard cubic meters of natural gas last year.
The production of both crude oil and natural gas in Tahe Oil Field has increased significantly. The increase in crude oil accounted for 40 percent of Xinjiang's total increase. In 2007, Tahe Oil Field was expected to produce between 300 million to 500 million tons of oil. By the end of last year, there were 2.47 billion tons of confirmed oil and gas reserves.
It is expected that Tahe Oil Field will produce 6.09 million tons of crude oil and 1.05 billion cubic meters of natural gas in the year 2008.
By People's Daily Online