Sinopec ups Tahe estimate

09:04, February 23, 2010      

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China Petroleum and Chemical Corp (Sinopec), Asia's biggest refiner, said there might be an additional 100 million metric tons of oil, or 10 percent more than earlier estimates, at its Tahe field in the nation's northwest. Sinopec earlier said the Tahe site has 1 billion tons of geologic reserves.

Spokesman Huang Wensheng estimates the Tahe field will produce 10 million tons of oil a year by 2015.

Production from Sinopec's fields in northwestern China, including Tahe, rose 10 percent to 6.6 million tons of crude oil last year, the Beijing-based company said on Dec 31.

Source: China Daily
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