China Discovers First Shale Oil Field with over 100 Million Tons in ReservesBeijing, 25 Mar (ONA) —- Sinopec, China’s largest oil refiner, has
announced the discovery of two major shale oilfields in the east of
the country with combined proven reserves of 180 million tonnes,
after the discovered reserves in the Xinxing shale oil field in
eastern China underwent review and registration by the Chinese
Ministry of Natural Resources.

Sinopec affirmed that these reserves represent the first batch to be
confirmed under the shale oil reserve estimation rules, which took
effect last January, making the Xinxing field the first shale oil
field in China to surpass the 100-million-ton reserve threshold.

The field is located in the Shengli Jiyang National Shale Oil Model
Zone, operated by Sinopec in Shandong Province, eastern China, with
data indicating that geological reserves exceed 140 million tons,
while recoverable technical reserves are estimated at 11.36 million
tons.

In addition, Sinopec continues to intensify shale oil exploration
and development, achieving major breakthroughs across multiple sites
as part of a strategy to enhance China’s energy security and reduce
reliance on crude oil imports.—- Ends/Khalid