On September 3, China Petroleum announced that the cumulative production of oil and gas equivalent in China's largest oil and gas field, PetroChina Changqing Oilfield, has recently exceeded 1 billion tons. This milestone comes after the completion of 60 million tons of large oil and gas fields in 2020.
On September 3, China Petroleum announced that the cumulative production of oil and gas equivalent in China's largest oil and gas field, PetroChina Changqing Oilfield, has recently exceeded 1 billion tons. This milestone comes after the completion of 60 million tons of large oil and gas fields in 2020.
The core of energy security lies in oil and gas security. One billion tons of oil and gas, when converted into crude oil equivalent, can fill 80 West Lakes.
Located in the Ordos Basin, Changqing Oilfield holds reserves of typical "three low" (low permeability, low pressure, low abundance) oil and gas resources in the world. The tightness is comparable to a "whetstone", making exploration and development rare on a global scale. Over the past 50 years of development and construction, several generations of Changqing workers have cultivated the Longyuan land, advanced into the northern Shaanxi Plateau, battled Helan Mountain and bravely rushed into Mu Us. They have explored and formed a unique series of exploration and development technologies which transformed the "marginal oil field with no exploitation value" into China's largest oil and gas field with the highest output."