A total of 472 new wells have been drilled over 5 years.
According to Global Times, the first national-level shale oil demonstration site in the country, located in Jimoxia County (Xinjiang Uygur Autonomous Region), has set a new annual production record: 1.7 million tons of oil have been produced since the beginning of the year.
The cumulative production at this site, managed by China National Petroleum Corp (CNPC), has exceeded 5.3 million tons.
Shale oil is a new type of oil and gas resource with significant development potential; however, it is widely recognized in the industry that its extraction is fraught with difficulties. The demonstration site is located in the eastern part of the Junggar Basin, covering an area of 1,278 square kilometers, with oil layers lying at depths of over 3,800 meters.
According to Wang Haimin, a senior engineer at CNPC at the field, since 2020, the construction of production facilities at the site has accelerated, with a total of 472 new wells drilled. Annual production at the site has increased from 116,000 tons in 2019 to 1.7 million tons this year, and the production plan was completed 22 days ahead of schedule.
According to the latest data from the National Energy Administration (NEA), crude oil production in China is expected to reach a record level of 215 million tons by 2025.
During the 14th Five-Year Plan (2021-2025), China has achieved significant results in oil and gas exploration, with production steadily increasing. This progress has elevated China's oil and gas sector to a new stage of development, characterized by improvements in both quantitative and qualitative indicators, as well as a transition to more environmentally friendly extraction methods.
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