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China Has Two Super-endowed Natural Gas Fields

The Daqing oilfield, for the first time, discovered in the north of the Songliao basin a new 4,400 meter deep underground natural gas field with 100 billion cubic meters of gas reserves, Meanwhile, Sichuan Province's newly discovered Puguang gas field has exploitable gas reserves of 87.832 billion cubic meters and is up for accelerated development.

To date, Daqing has cumulative oil production of 1.821 billion tons, more than 40% of all of China's land based oil output.

According to experts in mining and resource reserves at the Ministry of Land and Resources, the Puguang gas field located to the northeast of Sichuan province has reserves of up to 114.3 billion cubic meters, of which 87.832 billion cubic meters can be extracted. This would put Puguang at the head of China's natural gas fields.

According to current assessments and estimates, China's long-term natural gas reserves total 4.714 trillion cubic meters, with exploitable volume ranging from 1.4 to 1.8 trillion cubic meters. Current proven natural gas reserves are 386 billion cubic meters, of which 247 billion cubic meters are extractable. Natural gas projects under development account for one-third of the total exploitable resources.
(Xinhua News Agency February 10, 2005)

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