Changqing Oilfield Discovers Large-Scale Oilfield in Gansu Province

China Discovers ‘Black Gold’

Changqing Oilfield Discovers Large-Scale Oilfield in Gansu Province

Changqing Oilfield, a subsidiary of PetroChina, has made a significant discovery in Hongde, Huanxian County, Gansu Province, China. The oilfield, located in the western region of the Ordos Basin, boasts well-preserved geological reserves exceeding 100 million tonnes.

Exploration efforts began in June 2021, utilizing advanced 3D seismic technology to search for structural oil reserves. The complex geological conditions in the area posed a challenge, but Changqing Oilfield persevered and achieved remarkable results.

According to Niu Xiaobing, Deputy General Manager of Changqing Oilfield, they have already tapped into high-yield industrial oil flows in 23 wells, with three of them producing over 100 tonnes of oil daily. The company has identified proven oil reserves of 50.24 million tonnes, with estimated reserves amounting to 56.2 million tonnes.

These breakthroughs in oil exploration have accelerated the development of the oilfield in Hongde. Currently, the daily crude oil output has reached 504 tonnes, and the discovered reserves have formed a crude oil production capacity of 500,000 tonnes per year.

It is worth noting that Changqing Oilfield has previously established a world-class ultra-large oil and gas field in the Ordos Basin, with an annual output of 65 million tonnes. The recent discovery in Hongde adds to their impressive portfolio of successful oilfield developments.

The discovery of this large-scale oilfield in Gansu Province is not only a significant milestone for Changqing Oilfield but also a valuable asset for China’s energy resources. It showcases the company’s commitment to technological advancements and their ability to unlock the potential of complex geological formations. As efforts continue to harness these newfound reserves, the oilfield in Hongde is poised to contribute significantly to China’s energy production and meet the nation’s growing demand.

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