China's biggest petrochemical concern Sinopec Corp. has started drilling
China's biggest petrochemical concern Sinopec Corp. has started drilling Asia's deepest oil well of 8,400 metres depth.
Workers began the sinking of the oil well located at Tahe oilfield in Tarim basin in the country's southern Xinjiang Uygur region.
On completion, the oil well would be the deepest in Asia, said a source from Sinopec Corp, the country's largest producer and marketer of oil products.
The Tahe oilfield is estimated to have potential petroleum reserves of 1.2 billion tons. Situated at the northern fringe of the Tarim basin, it has proven reserves of 530 million tons of petroleum and 59 billion cubic meters of gas resources.
The oilfield has set a production target of 4.2 million tonnes of crude this year and hopes to attain a production capability of 10 million tons by 2010.
