On the 15th, the Ministry of Natural Resources learned that the proven reserves of oil and gas in China stopped falling and rebounded last year, adding a 100 million ton oil field, three hundred billion square gas fields and a 100 billion square shale gas field.
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The Ministry of Natural Resources issued a national report on oil and gas exploration and exploitation in 2018 on the same day, showing that China’s oil reserves increased by 959 million tons last year, an increase of 9.4% over the same period last year. Among them, there are three basins with newly proved reserves of more than 100 million tons, namely, Ordos Basin, Bohai Bay Basin (onshore) and Junggar Basin, and one oilfield with newly proved reserves of more than 100 million tons is Heshui Oilfield in Ordos Basin.
The new proved geological reserves of natural gas are 83.157 billion cubic meters, an increase of 49.7% over the same period of last year. Among them, there are two basins with proven reserves greater than 100 billion cubic meters, namely, Ordos and Tarim basins. There are three new gas fields with proven reserves greater than 100 billion cubic meters, namely Sulige gas field in Ordos Basin, Mizhi gas field and Krasu gas field in Tarim Basin.
The report shows that China’s oil and gas production has steadily increased. In 2018, China’s oil production reached 189 million tons, down 1.2% year on year. Basins with output of more than 10 million tons include Bohai Bay (including sea area), Songliao, Ordos, Junggar, Tarim and Pearl River Mouth basins, totaling 176 million tons, accounting for 92.8% of the total national output.
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Natural gas production in China was 14.512 billion cubic meters, an increase of 6.4% over the same period last year. Among them, the basins with output of more than 3 billion cubic meters are Ordos, Sichuan, Tarim, Qaidam, Songliao and Pearl River Mouth basins, totaling 126.346 billion cubic meters, accounting for 89.3% of the national total.
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