"A large oil field has been found in Siziwang Banner in northern China's Inner Mongolia autonomous region, which is known as the landing place of the Shenzhou-7 space module in 2008.
The oil field has a proven reserve of 100 million tons, and has a workable reserve of 35 million to 40 million tons based on preliminary estimate.
The Siziwang Banner government will input RMB 20 million (US$2.9 million) in the first half of 2009 to establish five exploratory shafts for further exploration, and plans to invest RMB 200 million in the next three years to dig 100 wells with an annual oil output of 150, 000 tons.
This is the second oil field found in Inner Mongolia which already has a proven reserve of 700 million tons. It is expected the oil reserve will amount to over 4 billion tons in this region."
The field isn't very large as the recoverable reserves are estimated to be around 300 million barrels, but the location is interesting.
No comments:
Post a Comment