China Unveils Major Shale Oil Discovery in Shandong Province
Sinopec announces over 140 million tonnes of proven shale oil reserves, marking a significant milestone in domestic energy resources.
The China Petrochemical Corporation (Sinopec Group), identified as the nation's largest oil refiner, has reported a landmark discovery of over 140 million tonnes of proven shale oil reserves in eastern China's Shandong Province.
This development is recognized as the first shale oilfield in China to surpass 100 million tonnes of certified reserves, as confirmed by the Ministry of Natural Resources.
This discovery is significant within the broader context of oil and gas exploration efforts in the Jiyang shale oil national demonstration zone, located in Shandong.
The total estimated shale oil resources in this zone have now reached 10.5 billion tonnes, with cumulative oil output exceeding 1 million tonnes since the project's initiation.
Sun Yongzhuang, assistant president of Sinopec and executive director of Shengli Petroleum Administrative Bureau Co., Ltd., emphasized that the newly estimated shale oil reserves of the Shengli Oilfield are on par with the conventional oil and gas resources that have been discovered within the same region over the past 60 years.
The Shengli Oilfield itself was initially discovered in 1961, with development activities commencing in 1964.
Shale oil comprises liquid hydrocarbons found in shale rock formations that can be extracted for refining.
These deposits are typically situated within organic-rich shale and are associated with thin layers of carbonate rocks, sandstones, and siltstones.
In an effort to enhance domestic energy production, China has established three national-level shale oil demonstration zones, located in Xinjiang Uygur Autonomous Region, Heilongjiang Province, and Shandong Province.
These initiatives are part of China’s strategy to advance its energy independence and capitalize on its domestic resources.
This development is recognized as the first shale oilfield in China to surpass 100 million tonnes of certified reserves, as confirmed by the Ministry of Natural Resources.
This discovery is significant within the broader context of oil and gas exploration efforts in the Jiyang shale oil national demonstration zone, located in Shandong.
The total estimated shale oil resources in this zone have now reached 10.5 billion tonnes, with cumulative oil output exceeding 1 million tonnes since the project's initiation.
Sun Yongzhuang, assistant president of Sinopec and executive director of Shengli Petroleum Administrative Bureau Co., Ltd., emphasized that the newly estimated shale oil reserves of the Shengli Oilfield are on par with the conventional oil and gas resources that have been discovered within the same region over the past 60 years.
The Shengli Oilfield itself was initially discovered in 1961, with development activities commencing in 1964.
Shale oil comprises liquid hydrocarbons found in shale rock formations that can be extracted for refining.
These deposits are typically situated within organic-rich shale and are associated with thin layers of carbonate rocks, sandstones, and siltstones.
In an effort to enhance domestic energy production, China has established three national-level shale oil demonstration zones, located in Xinjiang Uygur Autonomous Region, Heilongjiang Province, and Shandong Province.
These initiatives are part of China’s strategy to advance its energy independence and capitalize on its domestic resources.
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