GCL08
2021-08-26
That’s great
China Announces Major Shale Oil Discovery
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The company has identified shale oil bearing zones in the Gulong formation, CNPC told a media briefing carried by local television.</p>\n<p>\"The Gulong shale oil campaign helps to cement Daqing's position as China's largest onshore oilfield as it struggles to replace reserves ... it contributes to ensure national oil supply security,\" said Fang Qing, general manager of Daqing oilfield, as carried by Reuters.</p>\n<p>Chinese oil giants are ramping up exploration for shale oil and gas as part of a mandate from authorities to raise domestic production, which could diminish China's costly dependence on crude oil and natural gas imports.</p>\n<p>Yet, Chinahas struggled to develop its huge shale gas and oil resources. The challenges arise because some of the most prolific basins are twice as deep underground as the shale gas resources in some of the most extensive U.S. shale gas plays. 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The company has identified shale oil bearing zones in the Gulong formation, CNPC told a media briefing carried by local television.\n\"The Gulong shale oil campaign helps to cement Daqing's position as China's largest onshore oilfield as it struggles to replace reserves ... it contributes to ensure national oil supply security,\" said Fang Qing, general manager of Daqing oilfield, as carried by Reuters.\nChinese oil giants are ramping up exploration for shale oil and gas as part of a mandate from authorities to raise domestic production, which could diminish China's costly dependence on crude oil and natural gas imports.\nYet, Chinahas struggled to develop its huge shale gas and oil resources. The challenges arise because some of the most prolific basins are twice as deep underground as the shale gas resources in some of the most extensive U.S. shale gas plays. The challenging geology leads to higher well drilling and completion costs, lower margins for exploration and production companies, and, at times, mixed results in gas flows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":488,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":11,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/810316675"}
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