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China found high-quality crude oil in Xinjiang
www.chinanews.cn 2006-04-06 16:52:06
Chinanews, Jinan, Apr.6(By Li Bo and Xu Yongguo) - Shengli Oilfield,
China's second largest oilfield, has found in Xinjiang the first
successive base of resources -- P-2 Well -- and discovered high-quality
crude oil which is rarely seen in the world.
Of the best quality in the world, oil in the P-2 Well is rarely found in
China. It can be directly used to fuel tractors.
Mr. Zhang Shanwen, deputy manager and chief geologist of Sinopec Shengli
Oilfield Company Limited, said that the P-2 Well is located in Kuitun
City which is 80 kilometers to the north of Karamay Oilfield. It covers
an area of about 13.5 square kilometers with the oil reserve amounting to
7 million tons.
"Once a gold bean is found, it should not be the only one." As Zhang
expected, they soon drilled another well of similar oil quality, namely
the P-8 Well, indicating the good prospect of resources in this area.
Feasibility study report on exploitation of the P-2 Well has been
approved by Sinopec Group Company at the beginning of this month and the
well will produce 100 kilotons of crude oil this year according to plan.
This area is estimated to have more than 50 million tons of oil reserves,
and it is hopeful to become a 300-kiloton oil production base by the year
2008.
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