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Three Oilfields Found in Junggar Basin
Geologists have discovered three oilfields with proven reserves estimated at 200 million tons in the Junggar Basin, northwest China's Xinjiang Uygur Autonomous Region.
Verified in the past six months, the Luliang Oilfield has oil reserves estimated at 120 million tons. The oilfield in trial operation has pumped out 1,200 tons of crude oil by the end of November. It will have an annual production capacity of one million tons after being fully completed.
The Kayindike Oilfield has oil reserves estimated at over 50 million tons. The Xinjiang Oilfield Company has sent more workers for further exploration.
A high-yield oil well has been drilled with a daily production capacity of 33 tons. The oil well area named the Huainan Oilfield has oil reserves estimated at 20 million tons.
The Junggar Basin has verified oil reserves of 8.6 billion tons, as well as natural gas reserves of 2.1 trillion cubic meters. A total of 31 oil and gas fields have been found in the basin to date.
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