LANZHOU: Changqing Oilfield, a branch of PetroChina, has discovered a large-scale, well-preserved oilfield with geological reserves of over 100 million tonnes in Huanxian County of northwest China’s Gansu Province, reported Xinhua.

Up to now, Changqing Oilfield has found proven oil reserves of 50.24 million tonnes and estimated oil reserves of 56.2 million tonnes in the area, according to Niu Xiaobing, deputy general manager of Changqing Oilfield.

“Currently, the new oilfield’s daily crude oil output has reached 504 tonnes, and the discovered oil reserves have formed a crude oil production capacity of 500,000 tonnes per year,“ said Niu.

Previously, Changqing Oilfield built a world-class ultra-large oil and gas field with an annual output of 65 million tonnes in northwest China’s Ordos Basin. - Bernama, Xinhua

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