| livego | 2005-12-18 12:47 |
China confirms major natural gas findLast month, Wang Yupu, president of Daqing Oilfield Co Ltd, said a preliminary probe showed that the gas field has reserves of at least 100 billion cubic metres. The new gas field, named Qingshen, is located under Daqing oilfield in Heilongjiang Province, which produced 46.4 million tons of crude oil last year. It would be the country' fifth-biggest gas field after the Tarim, Qaidam, Shaanxi-Gansu-Ningxia and Sichuan basins, according to industry experts. "The discovery is of strategic importance to PetroChina's long-term development blueprint of 'stabilizing output in the east while stepping up development in the west,'" Daqing Oilfield, a PetroChina subsidiary, said in a report. "The find will add to the energy potential of Daqing, whose oil reserves are on the decline," said Gong Jinshuang, a senior oil and gas analyst with the research arm of PetroChina's parent company, China National Petroleum Corp (CNPC). 
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