More Reserves Found in China's 2nd Biggest Oilfield

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Last updated at: (Beijing Time) Thursday, August 01, 2002

More Reserves Found in China's 2nd Biggest Oilfield

The Shengli Oilfield, the country's second largest oil producer, has discovered additional oil reserves of 68 million tons in the first half this year.

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The Shengli Oilfield, the country's second largest oil producer, has discovered additional oil reserves of 68 million tons in the first half this year.

Shengli, in east China's Shandong Province, produced 13.25 million tons of crude oil in the first six months of this year.

The reserves discovered in the Shengli Oilfield have increased by 100 million tons annually in the past 19 consecutive years and annual oil output stands at 26 million tons.

About 79 percent of wells dug this year were proven to produce oil and 179 deserted wells were brought back into production with each well's average daily output reaching five tons.

The oilfield attributed the growth to the technology innovation drive launched this year.

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