Sinopec makes new oil/gas exploration breakthrough in Tahe Oilfield
(www.chinamining.org)
Updated:
2008-06-13 23:01
Counter:
BEIJING, June 13 - Northwest Oilfield of Sinopec (SNP. NYSE; 0386.HK; 601857.SH) this year has made a breakthrough on oil/gas exploration in YQ5 well in Yuqixi area of Tahe Oilfield, Northwest China¡¯s Xinjiang Ugyur Autonomous Region,The new discovery in YQ5 well helps the company expand its exploration area by 400 square kilometres and increase the proved reserve by 100 million tons, and the Yuqixi area becomes one of new substituted oil reserve areas for Sinopec Northwest Oilfield.
Nowadays, the company arranged exploration in another two wells YQ7 and YQ9 in Yuqixi area, hoping for further discoveries there.
Tahe Oilfield plans to realize 10 million ton/year of output by 2010.
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