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New Find Will Sustain Its Energy Needs

Jin Zhijun, president of the Exploration and Production Research Institute of Sinopec said that exploration teams had found....

New Find Will Sustain Its Energy Needs

Jin Zhijun, president of the Exploration and Production Research Institute of Sinopec said that exploration teams had found the Bohai Bay Basin of North China may contain 20.5 billion tons of offshore oil reserves, with 9 billion tons already proven, according to experts? estimation.

The experts say that total oil resources in place in the basin could potentially sustain the country's energy needs for a considerably long time.

Such discoveries have proven that marine facies basins, in China, such as the Bohai Bay Basin, have the conditions for hydrocarbon formation and, hence, oil or natural gas resources.

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