China National Petroleum Corporation (CNPC) has discovered a shale oil field containing estimated 1 billion tons of shale oil in Northwest China's Ordos Basin, CNPC announced on Sunday on its Sina Weibo social media account, becoming the country's largest shale oil field ever discovered.
The shale oil field was discovered by CNPC's Changqing Oilfield Co which has made a few major discoveries in recent three years. In 2019, Changqing discovered 359 million tons of shale oil in Qingcheng region of Northwest China's Gansu Province.
The company has expanded its explorations, discovering 143 million tons and 550 million tons of oil reserve separately in 2020 and in the first five months of 2021. The latest one billion tons of oil reserve has become an important milestone in China's oil-gas exploration history.
CNPC also announced on Saturday through its WeChat account that the company had discovered the one-billion-ton oil-gas field in the Tarim Basin. CNPC said the oil-gas reserve is estimated to produce 4 million tons of oil and 1.4 billion cubic meters of natural gas annually before 2025.