PetroChina Extracted Over 26 Million Tonnes of Oil Equivalent — OilPrice

As OilPrice reports, citing state media, Chinese state-owned company PetroChina has extracted more than 26 million tonnes of oil equivalent from deposits at a depth of 6,000 metres at the Hade-Fuman field in Xinjiang, western China. China is accelerating the development of ultra-deep deposits to increase domestic oil production.

485 ultra-deep wells

A total of 485 ultra-deep wells have been drilled at the Hade-Fuman field. According to the publication, it has become China’s largest desert oil field and a base for the exploration and production of oil and gas from ultra-deep horizons.

Deposits at depths of 6,000 metres and below are considered ultra-deep. Drilling such wells is more expensive and technologically more complex than drilling at shallower depths.

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Exploration of shale deposits

China, the world’s largest crude oil importer, has intensified exploration of domestic resources in recent years, including ultra-deep and shale deposits. This is part of the country’s efforts to reduce dependence on imported hydrocarbon supplies.

In May, Sinopec reported that China’s Ministry of Natural Resources had approved geological reserves of 235.687 billion cubic metres at the Ziyang-Dongfeng shale gas field in Sichuan Province. According to OilPrice, this meant the establishment of China’s first ultra-deep shale gas field with reserves exceeding 100 billion cubic metres.