PetroChina Co. Ltd. struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Dec. 13.
Zhongqiu-1 well tested a daily natural gas flow of 330,000 cubic meters and 21.4 cubic meters of condensate, a super light crude oil, CNPC said on its news portal news.cnpc.com.cn.
The well is located in the southern part of Kuche trough in the Tarim basin and part of an exploration zone with a size of 5,200 sq km (2,007 sq miles).
PetroChina aims to build by 2020 an annual output of 30 million tonnes of oil equivalent in the Tarim basin, including about 26 billion cubic meters of natural gas production, the CNPC report said.
CNPC said last month newly discovered oil field Mahu in the Junggar basin of Xinjiang, is expected to produce 3 million tonnes of oil in 2021, tripling this year’s estimated rate.
China’s national oil and gas producers have pledged to expand domestic oil and gas exploration and production following an instruction from President Xi Jinping to boost national energy security.
A county in southwestern China has ordered a halt to shale gas mining amid fears it may have helped cause an earthquake in the area that killed two people, state news agency Xinhua reported.
Exxon Mobil Corp. has resumed seismic exploration for oil and gas off of the coast of Guyana after halting work in December due to a run-in with the Venezuelan navy, a Guyanese government official said on Feb. 26.
U.S. crude oil production rose 231,000 barrels per day (bbl/d), or 2%, to a record 10.674 million barrels per day (MMbbl/d) in June, the U.S. Energy Information Administration said in a pair of monthly reports on Aug. 31.