BEIJING, Aug. 10 (Xinhua) -- China's largest oil refiner Sinopec has acquired crude oil and natural gas from a newly-drilled oil reserve about 8,000 meters deep in the Tarim Basin of Xinjiang Uygur Autonomous Region.
The high-yield reserve in Sinopec's Shunbei oil and gas field is estimated to be capable of producing 244 tonnes of crude oil and 970,000 cubic meters of natural gas each day, the company said Wednesday.
The Shunbei oil and gas field now has 41 ultra-deep drilling wells with a vertical depth exceeding 8,000 meters.
Deep and ultra-deep oil and gas reserves account for about 34 percent of China's total oil and gas resources, making them the main field of oil and gas discoveries, according to Ma Yongsheng, chairman of Sinopec.
The new oil and gas reserves discovery is expected to further improve China's energy supply and help guarantee national energy security. Enditem