1.05 billion tons of shale oil reserves proven in Ordos Basin

PetroChina Changqing Oilfield Company recently announced that it has discovered 1.05 billion metric tons of shale oil reserves in total at its Qingcheng oilfield in the Ordos Basin.

The company is a regional branch of China's top oil and gas producer, China National Petroleum Corporation (CNPC), and the Qingcheng oilfield is the largest shale oil field in the country with the largest amount of proven reserves.

The proven shale gas and oil reserves in the Qingcheng oilfield were discovered over a three-year period.

In 2019, petroleum exploration saw a major breakthrough, with 359 million tons of proven shale oil reserves being discovered.

In 2020, an additional 143 million tons of shale oil reserves were proven.

In the first five months of this year, another 550 million tons of geological reserves were found.

So far, shale oil exploration in the Qingcheng oilfield has become a major national achievement of the 21st century.