Large oil field discovered in China

Baku. 1 December. REPORT.AZ/ Chinese state oil company PetroChina discovered a conglomerate oil field in Xinjiang Uygur Autonomous Region, in the north-west of the country.

Report informs referring the TASS quoting Xinhua.

According to information, volume of geological reserves in the oil field is estimated at 1.24 billion tonnes (9 billion barrels).

Head of PetroChina Xinjiang branch, Tang Yong, said that 520 million tonnes (3.8 billion barrels) of the found 1.24 billion tonnes reserves or 42% has already proven, which is more than the reserves in American Hemlock and Brazilian Campos fields.

Tang Yong noted that although exploration work has been carried out in the region since 1990s, weak technology complicated the operation. Discovery of a new field expands prospects for oil and gas exploration in the region.

Notably, China's largest oil field Daqing is located in Heilongjiang province, and it's estimated reserves is 5,7 bln tonnes (41,6 bln barrels).