Up until the end of June, China National Petroleum Corporation (CNPC) had already finished 61 percent of its yearly target in verifying the geological reserve of petroleum. Among which the reserves in Changqing and Jilin oilfields are expected to hit more than 30 billion tons.

The petroleum reserves controlled and forecast respectively had contributed to 69 percent and 59 percent of the plan of the whole year. Altogether 53.7802 million tons of crude oil was produced, realizing 50.73 percent of the year's target. The output of natural gas had been realized at 50.31%, increasing by 28.18 per cent over the same period of the year.

The oil-gas reserve is the core resource of CNPC to enhance its strength and competitive ability. The joyful prospecting results obtained in the first half year have given CNPC a promising future.

There are eight belts altogether found with large scale of oil sand and whose oil-bearing structure and formation have already been verified. After evaluation, 11 reserves have been presented in Honggang region in the South of Songliao Basin, Dagang Tanhai area in Bohai Bay Basin, Eerduosi basin, and Northwest edge of Songorine Basin, etc.

By People's Daily Online