PetroChina discovers significant shale oil reserves

China

DAQING, August 25, 2021 – PetroChina Company has found 1.27 billion tonnes of oil in place in Daqing, China, the subsidiary of state-run China National Petroleum Corporation announced on Wednesday.

 

Oil in the Gulong shale prospect on the Songliao Basin will be considered as replacement for depleting production at the company’s mature Daqing oilfield, the company said.

The find is the 58th exploration well out of the company’s planned 100 in 2021.

PetroChina aims to find an additional 1 billion tonnes of oil in place in the Gulong prospect.