The First Large Shale Oil Field with Over 1 Billion Tons Proved in Ordos Basin

On the June 20^th, PetroChina announced that after more than two years of concentrated efforts, its Changqing Oilfield has made a major breakthrough in oil exploration in the Ordos Basin (Qingcheng area), with proven geological reserves of over 1 billion tons, becoming the largest shale oil field in China.

At present, it has accumulated 1.052 billion tons of proven oil reserves. This dazzling achievement benefits from Changqing Oilfield's continuous innovation in the geological theory of shale oil exploration in Ordos Basin, 3D seismic and logging imaging technology in Loess Plateau, as well as the breakthrough in key core technologies such as fast drilling of horizontal wells and volume fracturing.

PetroChina disclosed that the construction of 5 million tons of production capacity deployed in this region is accelerating, which has opened the prelude to large-scale exploitation of shale oil; It is estimated that by the end of the 14th Five-Year Plan, the annual output of shale oil in Changqing Oilfield will increase to 3 million tons, helping the annual oil and gas equivalent to reach a new height of 70 million tons.