China's Largest Condensate Oilfield Starts OperationThe Yaha Oilfield, the largest condensate oil production base in China, started operation Tuesday in northwestern Xinjiang Uygur Autonomous Region.The oilfield, located on the northern edge of the Tarim Basin, was discovered in 1994. It has an oil and gas bearing formation of 89 square kilometers with 41.9 million tons of oil and 39.3 billion cubic meters of gas in place. To date, 22 oil wells have been dug and an oil and gas processing center has been built with a combined investment of 1.1 billion yuan. The oilfield is expected to produce 580,000 tons of light oil, 30,000 tons of LPG and 1 billion cubic meters of natural gas annually. Its products will be shipped to various petrochemical works in northwest China for processing. When the oil pipeline linking Xinjiang with Shanghai is completed in 2004, the gas will be transmitted directly to Shanghai, China largest industrial center. |
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