Henan Oilfield Produces 50 Million Tons of CrudeThe Henan Oilfield, one of the major oil production bases in central China, has cumulatively turned out some 50 million tons of crude oil in its history of over 20 years, according to China Petroleum News.The paper said that the development of the oilfield started in 1978. It has so far achieved a total industrial output value of over 18.54 billion yuan, and turned over to the state some 2.5 billion yuan in taxes and profits. Over the past 20 years, the Henan Oilfield has discovered 15 oil deposits in the Nanyang Basin of the province and in the Xinjiang Uygur Autonomous Region, and it has verified oil reserves totaling 240 million tons. |
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