Oil production in the region of Bohai Bay in 2019 will be about 50 thousand tons

Recoverable shale oil reserves in China amount to about 5 billion tons. For this indicator, the country is second only to Russia and USA.

China national petroleum Corporation (CNPC) has discovered a large shale oil reserves near Tianjin in the North of the country. It is reported by Xinhua Friday, 1 March.

According to the company, Dagang Oilfield, CNPC unit, two wells in Bohai Bay region provide a stable production for more than 260 days. While average daily production is 20 to 30 cubic meters.

In General, the shale oil reserves in the area are estimated at 100 million tons.

According to the International energy Agency, recoverable reserves of shale oil in China is about 5 billion tons. For this indicator, the country is second only to Russia and USA.

Dagang Oilfield was established in 1964 . The company is engaged in oil exploration in 25 districts, cities and counties of China.

CNPC is the largest oil and gas Corporation of China. She plans by the end of 2019 to increase production in the region of the Bohai Gulf to 50 thousand tons per year and to increase to 500 thousand tons by 2025.

Earlier it was reported that in 2018 in the U.S. state of Texas set a new record for the extraction of shale oil is 1.54 billion barrels. The previous record was set back in 1973 – 1.28 billion barrels.

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